Jerome Powell: “It is a big risk to our independence if we were to stray into areas where we shouldn’t that really aren’t part of our…”

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

I'm very focused on just doing my job.

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.

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