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

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…

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.