Jerome Powell: “I expect inflation to move higher next year.”

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

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

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

Without the ability to pay interest on reserves, the Fed would lose control over rates