Jerome Powell: “We do not have a lot of tools to address the income inequality.”

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 won’t bow to political pressure when it comes to setting monetary policy.

As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.

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.