Jerome Powell: “We owe you, and the public in general, clear explanations of what we are doing and why we are doing it.”

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.

I haven’t heard that.

If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.

We're trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.