Jerome Powell: “There are no new water features, there’s no beehives, and there’s no roof terrace gardens”

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

The U.S. economy is in solid shape.

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

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