Jerome Powell: “It is not permitted under the law for the president to fire or demote him or any of the other Fed governors with…”

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

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

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

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