Donald Trump: I’m Not Thrilled by Federal Reserve Raising Interest Rates

"I don't like all of this work that we're putting into the economy and then I see rates going up", he added.

President Trump took a pot shot Thursday at the Federal Reserve for eyeing another interest rate hike that could slow America's strong economic growth.

After more than six years of record low interest rates that helped the U.S. economy recover from the 2008 financial crisis, the Fed began to slowly raise rates again in December 2015 and has raised them five times since Trump took office in January 2017.

The Fed has kept interest rates abnormally low by modern standards since the 2007-2009 financial crisis. "My experience at the Fed is consistent with what Jay Powell recently said - being non-political is deep in the Fed's DNA - and I believe that Jay will keep it that way".

Treasury yields and the dollar edged lower following the cable network's broadcast of that excerpt of its interview with the president.

The Fed has raised interest rates twice already this year.

Trump denounced the rate hikes in an interview with CNBC, just the latest time he has strayed from the traditions normally observed by the president.

Totally aside from the fact that he's not supposed to say that sort of thing, Trump's ambivalent expressions about interest rates over time, but also sometimes (as today) within the same breath, are highly disruptive to markets for whom monetary policy is extremely important.

"Every time you go up they want to raise rates again", Trump complained.

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The president's comments likely put a ceiling on the recent USA dollar rally so far this year, said Viraj Patel, a foreign-exchange strategist at ING Bank NV.

During the presidential campaign, he expressed his preference for low interest rates but also blasted the Fed under former Chair Janet Yellen for running an easy monetary policy to boost the economy in order to help Hillary Clinton's campaign.

The White House later clarified Trump's statements.

Speaking about Fed policy in his interview with CNBC, Trump said he is "letting them do what they feel is best".

Trump said he didn't approve of the hikes, even though he said he "put a very good man in" at the Fed in Powell.

It wasn't the first time in history the Fed has faced pressure from a US president.

Martin's successor, Arthur Burns, was a close ally of President Richard Nixon.

Trump has previously described himself as a "low-interest-rate person", and so his comments are not new. Eventually Burns relented, aiding Nixon but also helping to feed runaway inflation that dogged the US economy for almost a decade.

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