Jerome Powell: “I think a lot of the racial wealth gap is traceable to housing, as you point out.”

The public would lose faith that the central bank will make decisions based only on what’s best for all Americans.

It is not a foregone conclusion

If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.

Overall, while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.