After all, the Fed's primary tool for fighting inflation has been rate hikes. While traders feel certain the Fed will deliver a 25-basis-point cut at the conclusion of this week's meeting, the outlook becomes murky after that.

The incoming president's reaction to the central bank could serve as an early indicator of how extensively he plans to reshape traditional government bureaucracy.

The president-elect has said he wants a say on interest rates, and his policies may alter the growth and inflation outlook.