Jerome Powell: “It is a very important sector of the economy for the reasons you point out.”

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

If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.

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

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