Jerome Powell: “It is imperative that Congress swiftly addresses the debt limit. If it does not, America would default for the first…”

We do not take into account the fortunes of any political party or politician.

The Fed’s credibility would be lost.

If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.

If we move too slowly, there may be unnecessary losses, painful losses in the employment market.