Jerome Powell: “America’s economy has been resilient. Part of that is our stance. We think we’re in a good place on that, to respond to…”

We may approach that point in coming months

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

Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy

Rising downside risks to employment have shifted our assessment of the balance of risks