We've seen this movie before and know how it ends. Should the Fed make such an announcement, volatility in the stock market will escalate, and then Fed will back down. In all likelihood, come September, Powell will have a reason ready to go as to why it's not yet the right time to do it.
The Fed has to keep doing what it's doing, and even bigger going forward if they want to keep the status quo.
My view is that things are so messed up, no matter what the Fed does, the past two decades of malfeasance they've been practicing is going to catch up. The longer they keep up the charade, the nearer we get to doomsday.
Further, I've been unwavering in my opinion that Powell is going to be replaced come February. In the interim, he isn't going to do anything to rock the boat. He's going to go out quietly, claim success during his tenure, get his next gig at Goldman, JPM, or some other big name firm, and leave the growing pile of dung for his successor...who will likely be Brainard, for a number of reasons.