Jerome Powell: “The rise in joblessness has been especially severe for lower-wage workers, for women, for African Americans, and for…”

It is not a foregone conclusion

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

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

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