Jerome Powell: “Price stability is the responsibility of the Federal Reserve, and without it, the economy does not work for anyone.”

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

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