Jerome Powell: “the only way we can sort of win in the international competition is by having the best educated, most productive…”

without the ability to pay interest on reserves, the Fed would lose control over rates

I'm very focused on just doing my job.

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

If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.