Jerome Powell: “The things that are sold at retail now might have been put into inventory before the tariffs, so we think we should see…”

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

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

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

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