Jerome Powell: “The same is likely to be true of the economic effects, which will include higher inflation and slower growth.”

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.

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’m very focused on just doing my job.

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