Jerome Powell: “I think the Reserve Banks do a good job, by the way, on this.”

We may approach that point in coming months

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

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

It is a big risk to our independence if we were to stray into areas where we shouldn’t that really aren’t part of our mandate.