Jerome Powell: “Uncertainty around the economic outlook has increased.”

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

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

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

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