The sense of it, though, is that we want inflation to average 2 percent over time, and the reason we want that is that we want inflation expectations to be anchored right at 2 percent and not somewhat below 2 percent, which is arguably the case now.
Powell explains the Fed's goal for inflation expectations.
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Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy
The outlook for employment and inflation does not appear to have changed much since our September meeting
If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.
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