Jerome Powell: “I like to think of it as a bridge over this chasm that was created by the pandemic.”

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

Rising downside risks to employment have shifted our assessment of the balance of risks

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

The public would lose faith that the central bank will make decisions based only on what’s best for all Americans.