Jerome Powell: “The Fed would assess which goal – stable prices or maximum employment – is furthest away and prioritize achieving it.”

Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy

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

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

It is not a foregone conclusion