Jerome Powell: “We've judged that the risk to higher inflation and unemployment has risen”

If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.

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

As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.

As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.