Jerome Powell: “I want to affirm my continued support for the objectives assigned to us by Congress: Maximum employment and price…”

We do not take into account the fortunes of any political party or politician.

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

If we move too slowly, there may be unnecessary losses, painful losses in the employment market.

If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.