Trump said on Monday that he was "very, very close" to making a decision on who is going to lead the central bank
The Fed chairman announced that he'll soon start giving press conferences every -- rather than every other -- policy meeting
What to expect from Trump-appointee Federal Reserve Chairman Jerome Powell's tenure? What kind of Federal Reserve is he taking over?
I believe your legacy will depend on whether you succeed in protecting the Fed's independence, Mervyn King's message Jerome Powell
Powell will replace Janet Yellen, whose term ends in February
The next US Fed Chair Jerome Powell will face some extraordinary challenges at the outset of his five-year term
This was the third rate hike this year with the Fed sticking to its projection for three rate increases next year, while keeping a close look at inflation data.
The Fed has raised rates twice this year and currently forecast another nudge upwards by the end of 2017
Globally, gold was down 0.21% at $1,297.80 an ounce in Singapore
Yellen said in a press conference that the central bank was ready to change the interest rate outlook if needed
Stock markets and bond yields were largely unmoved by the decision
That means annual inflation is again hovering at the 2 per cent Fed target last touched briefly in February 2017
Recent swings in long-term US money market rates are part of their adjustments to structural changes post-financial crisis in addition to the Fed's current normalisation of monetary policy
Investment bank Goldman Sachs predicts the Fed will raise rates four times in 2019
The US Fed started slowing down on asset purchases starting October 2017
Fed officials say they may need a better strategy going forward to give them more power to address future recessions
New tariffs could create headaches for the Fed, which is tasked with fostering stable prices and full employment
"Honestly, I like 'em all," Trump told reporters when asked if he had a favourite from among the five
Many policymakers still felt that another rate increase this year 'was likely to be warranted,' the Fed said
The Fed has been buoyed by strong US employment and continued economic growth