Jerome Powell: “The trust of the American people is essential for the Federal Reserve to effectively carry out our important mission.”

The Fed’s credibility would be lost.

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.

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