Jerome Powell: “What's tended to happen is when there's turmoil in the Middle East, you may see a spike in energy prices.”

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 slowly, there may be unnecessary losses, painful losses in the employment market.

The Fed’s credibility would be lost.

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