Indexes slipped as traders zeroed in on remarks from Fed Chair Jerome Powell, who said the central bank is in no hurry to cut rates amid a strong economy.

The wait is on for fresh consumer inflation data as investors weigh whether a Donald Trump White House would whip up price pressures.

Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s

Nov. 14, 2024 at 5:00 p.m. ET

Federal Reserve Chair Jerome Powell said Thursday that interest rates are still expected to decline further, but suggested they might not be that much lower over the next few months.

"The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said Thursday in Dallas.

A strong economy is giving Federal Reserve officials room to move “carefully” as they lower interest rates, the central bank chair said.