Federal Reserve Chair Jerome Powell said recent signs of economic health would allow the central bank to take its time in deciding how quickly to continue reducing interest rates, including by potentially slowing down the pace of cuts.

Fed Chair Powell was pressed about how the central bank will alter its policy in the wake of President-elect Donald Trump's victory last week. Economists think that Trump's proposals during the campaign,

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.