Jerome Powell: “We are seeing communities, including African-American communities, that are being reached by the jobs market in a way…”

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to deliver an economy that has price stability, maximum employment, financial stability.

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

It is not a foregone conclusion

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