Jerome Powell: “It is the heart of their jurisdiction to decide who gets prosecuted and for what.”

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

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

It is a big risk to our independence if we were to stray into areas where we shouldn’t that really aren’t part of our mandate.

There are no new water features, there’s no beehives, and there’s no roof terrace gardens