Marc Short, who served as chief of staff to former Vice President Mike Pence, affirmed President-elect Trump’s decision to appoint Pete Hegseth as secretary of Defense on Wednesday. “Pete served 20 years. He was awarded the Bronze Star twice in Iraq and Afghanistan. He’s somebody that I got to know when he was running Concerned…

Ongoing economic growth, a solid job market, and inflation that remains above the 2% target means the U.S. central bank does not need to rush to lower interest rates and can deliberate carefully, Federal Reserve Chair Jerome Powell said on Thursday.

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 officials want to see where it heads next.

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.

Wall Street's main indexes tumbled on Friday after Federal Reserve Chair Jerome Powell said there was no need to rush interest-rate cuts, pushing up U.S. Treasury yields and pressuring equities.

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

But if inflation continues to inch upward, the central bank may decide it needs to leave rates high to avoid a repeat of runaway inflation. Inflation peaked at 9.1% in June 2022 before slowly making its way back down closer to the Fed's target range of 2%.

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 Nasdaq and the S&P 500 were set for their worst session in over two weeks on Friday, after comments from Federal Reserve Chair Jerome Powell pointed to a slower pace of interest-rate cuts. Powell on Thursday pointed to ongoing economic growth,