Outside of a U.S. President bending norms, the Fed also faces challenges in achieving its economic objectives. Inflation remains above its 2% target: Its preferred measure is at 2.4%, though core prices — considered a better gauge of where inflation is headed — rose 2.8% in November from a year ago.

The Federal Reserve held interest rates steady on Wednesday after price increases ticked up over the last three months, suggesting inflation may still have some life in it. Central bankers held

The Federal Reserve left its key interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is head