Jerome Powell: “The single most important policy to getting those sectors reopened and getting people back to work, of course, is…”

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

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.

Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy