Jerome Powell: “We do not want our banks to turn into Government mutual funds, where they hold only Government securities.”

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

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

We do not take into account the fortunes of any political party or politician.

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