It's a sign of a more cautious approach as the Federal Reserve seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.

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.

Investors today will be listening to how Fed Chair Jerome Powell addresses the potential effect that President Donald Trump could have on the future path of monetary policy.