NEW YORK (TheStreet) -- Donald Trump came out on top Tuesday night, claiming his spot in history as the 45th President of the United States. The businessman and former reality TV star will take office in January, but his election to the highest seat in U.S. government brings with it a level of uncertainty.

One of the issues market watchers are paying closer attention to since Trump's victory is the likelihood that the Federal Reserve will increase interest rates in December. It has been speculated that the U.S. central bank would increase rates next month, but things aren't as clear now.

"It's really an open question at this point, I think it's going to depend on what we see markets do in the next couple of days," Bloomberg economics reporter Jeanna Smialek said in an appearance on BloombergTV's "Bloomberg Markets" on Wednesday afternoon.

If there is a sustained period of volatility, it could give the Fed pause. Members won't want to tighten rates during a time when financial conditions are already tight as a result of volatility.

"At the same time, they're seeing inflation build up, and so they're going to want to raise rates sooner rather than later. I don't think the fact that Donald Trump won last night is going to diminish that in any way," Smialek continued.

BloombergTV's Mike McKee mentioned speculation about new regulations to "rein in" the Fed and have it use a new set of rules on interest rates. McKee asked Smialek how concerned Fed officials are about that now.

If you liked this article you might like

Dunkin' Donuts May Drop the 'Donuts' From Its Name, but Not Until 2018

'Pharma Bro' Shkreli Doesn't Let Twitter Bans Stop Him During Trial

Wells Fargo Shares Slide on Possibility of More Unauthorized Accounts

Trivago Stock Slumping on Surprise Quarterly Loss

The Next Call of Duty Could Send This Gaming Stock Soaring, Top Expert Predicts