Jerome Powell: “I do think with the arrival of the tariff inflation, further progress may be delayed.”

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

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

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

The Fed’s credibility would be lost.