Jerome Powell: “Our need to sustain the public's trust is the essence of our work. We want the public to understand that we work for all…”

When you significantly slow the growth of the labor force, you will slow the growth of the economy.

As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.

If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.

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