Jerome Powell: “I think the costs of failure to restore price stability would be extremely high, and while there will be a cost to…”

We may approach that point in coming months

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

Rising downside risks to employment have shifted our assessment of the balance of risks

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