On Tuesday, the central bank chair said the Fed is 'well positioned' to deal with risks, uncertainties
Overall inflation climbed 0.3% in December from the previous month, driven by a jump in gas prices
The central bank said it is harder to gauge where inflation is headed, in part because of uncertainty around Trump's policies
Pace of rate cuts expected to slow this year given positive economic reports
The consumer price index rose 2.9% from a year earlier, but core inflation eased slightly
Prices rose just 0.1% from October to November: U.S. Commerce Department
Following its third cut this year, Fed signals fewer reductions in 2025
Economists now expect only two or three Fed rate cuts in 2025
Political clashes might be inevitable in the next four years
President-elect Trump has made numerous public criticisms of the Fed, Powell