Jerome Powell: “It is a really important thing and certainly worthy of a longer discussion, which I would be delighted to have with you.”

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

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

The Fed’s credibility would be lost.

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