The Fed has often been the target of criticism from the Trump administration, and toward the end of last year, the president had reportedly discussed firing Powell.
U.S. stocks headed into the festive season on the back of a four-session losing streak.
"I'm doing deals, and I'm not being accommodated by the Fed," Trump said in an interview with The Washington Post on Tuesday. "They're making a mistake because I have a gut, and my gut tells me more sometimes than anybody else's brain can ever tell me."
President Trump said Thursday that he was "not happy" with the Federal Reserve's decision to raise interest rates.
Yellen's policies as the Federal Reserve chairwoman helped lower unemployment and spur the country's economic recovery after the 2008 financial crisis, but her legacy will partially depend in part on her successor, Jerome Powell.
Powell is popular within the Federal Reserve system, where he's been a governor since 2012.
Only Fed economists untouched by reality could think rising prices for consumer goods is a desirable outcome.
Federal Reserve chair says an adjustment will 'likely be appropriate' after evaluating employment and inflation data.
'We may be moving more to a more balanced policy with what sounds like more business-friendly regulation and possibly more fiscal support,' Fed governor says.
The comments reinforced the view that the Fed could step up the pace of its rate hiking campaign if the incoming Trump administration unleashed a fiscal stimulus.
Johnson and Weld make up the strongest Libertarian Party ticket ever, but will that translate into electoral votes?
Fed records show several incidents were described internally as "espionage."
Acceleration in economic growth could persuade the Federal Reserve to raise interest rates again as early as June.
As part of the Dodd-Frank legislation passed in the wake of the 2007-2009 financial crisis, banks must have "living wills."
Neel Kashkari, a Goldman Sachs executive, called for Congress to take radical action to protect taxpayers.
Fears of a China-led global slowdown, along with oil's steep slide, have dampened the market's expectations for a hike.