Amy Morris

It delayed yesterday's test of its Starship rocket after a pin holding the tower arm in place failed to retract.

The next launch window will open at 5.30 today Central Time.

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Kevin Warsh is now officially the 17th chair of the Federal Reserve, sworn in by Justice Clarence Thomas.

Warsh takes over at a tense moment for the economy and the central bank.

President Trump introduced Warsh.

The leadership transition at the Fed is unusual, outgoing Chair Jay Powell.

deciding to remain on the Board of Governors, citing ongoing legal threats against him and the central bank.

That Governor Christopher Waller supports making it clear that the central bank's next interest rate move is just as likely to be an increase as a cut.

Waller says he would not rule out a future rate hike if inflation doesn't start to slow soon and that he would support removing the easing bias language in the policy statement.

Fed Governor Waller spoke at a conference in Frankfurt, Germany.

And now bond traders are fully pricing in an interest rate hike this year, a sign of conviction in the market that incoming Chair Walsh will need to move quickly to fight inflation.

It's a complete turnaround from a year before when President Trump's selection of Walsh to lead the Fed inspired Wall Street to bet on several rate cuts this year.

That changed after the U.S.

and Israel attacked Iran in February.

Secretary of State Marco Rubio says there was some progress during those talks with Iran amid uncertainty about whether a deal will be reached or war will resume.