Jerome Powell: “Monetary policy decisions would be based solely on careful, objective, and non-political analysis”

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

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.

The outlook for employment and inflation does not appear to have changed much since our September meeting