Jerome Powell: “We are following it very, very closely, and I think you have put your finger on it, this is a problem more for smaller…”

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

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