Jerome Powell said...

without the ability to pay interest on reserves, the Fed would lose control over rates

The effects on inflation could be short lived — reflecting a one-time shift in the price level.

We’re trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to del...