According to TechFlow, on December 17, the New York Times said that the relationship between US President-elect Trump and Federal Reserve Chairman Powell may become further strained. Federal Reserve employees take precautions against political conversations.

The report said that the mood at the Fed headquarters was cautious and it was uncommon to mention Trump 2.0. An anonymous economist said that analysts avoided talking about tariffs in emails or meetings for fear that the information would be leaked and portrayed as "anti-Trump."

The tone of the hallway conversations was negative, but they were mostly small talk and did not touch on politics, the people said.