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

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.

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

Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank has time before it needs to adapt its policymaking thinking due to the return of President-elect Donald Trump to the White House.