The Importance of a One-Time Adjustment

When the Fed stops raising rates, when you adjust for inflation, that means interest rates are going to be going up as inflation is coming down. So they still continue tightening when the Fed is just keeping nominal rates constant and inflation rate is comingDown. This whole idea of real rates moving around because inflation is moving around is the most ludicrous thing I've ever heard. It just shocks me that somebody at the Federal Reserve is actually saying something like this.