Jerome Powell: “I would expect we will drop it--I hate to say it again--in coming weeks.”

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

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

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to deliver an economy that has price stability, maximum employment, financial stability.

I do think that’s right.