The president also had words for Powell in the AP report, and grumbled at the Fed's plan to keep raising interest rates into 2019. "Obviously, presidents can speak out if they choose to and give their opinions about policy, there's no law against that, but I don't think it's wise and I do think the Fed has a strong reputation for acting in an independent and non-political way and I would not like to see that reputation damaged".
"Manufacturers reported raising prices of finished goods out of necessity as costs of raw materials such as metals rose, which they attributed to tariffs", the Fed report said.
Hatch of Utah, the longest-serving Republican senator, stood by the Fed's independence. "They have a right to act the way they do", Hatch said.
Nearly a year since nominating Powell to the post, Trump told the Wall Street Journal in an interview Tuesday that he was intentionally sending a direct message that he wanted lower interest rates, even as he acknowledged that the central bank is an independent entity.
The president's comments about Powell came as Trump repeatedly described the economy in personal terms. He "almost looks like he's happy raising interest rates", the president added.
The comments were in response to questions from economist Adam Posen, a former policymaker at the Bank of England, who said Trump's criticisms are "pretty unprecedented for the last couple of decades from a United States president".
This isn't the first time the president has publicly disagreed with the policy makers over at the central bank.
Megyn Kelly's NBC colleagues bash her following blackface controversy
The next day, Kelly apologized for what she'd said, saying, "Good morning everyone and welcome to the show". Roker remains with NBC as an occasional co-anchor on Nightly News and the daily weather anchor on Today .
Google follows Apple with free 4K movie upgrades for customers
Google is upgrading user-owned SD and HD films in Play Movies to 4K for free , but only in the US and Canada. We think watching in 4K should be a no brainer , so we're continuously working to make that a reality.
Massive shakeup at CBI after interim boss takes charge
Meanwhile, the government has appointed M Nageswar Rao as the new interim chief, who replaces Verma. Asthana was also probing the INX Media case, allegedly involving former Union minister P.
Asked Wednesday about the president's broadside against the central bank, Sen.
"I believe monetary policy today remains accommodative, and that, with the economy now operating at or close to mandate-consistent levels for inflation and unemployment, the risks that monetary policy must balance are now more symmetric and less skewed to the downside", he said. Trump has previously called Fed policies "crazy".
His message, as well as those of other Fed officials and the central bank's recently released meeting minutes "are really all saying the same thing - that the Fed is going to continue with gradual rate hikes to get the fed funds rate to neutral or higher", said Ward McCarthy, chief financial economist at Jefferies. His criticism could mount if the recent sell-off in stocks continues.
Wednesday was not the first time the US president has hit out at the Federal Reserve and its monetary policy since the appointment of Jerome Powell to the helm back February.
"I don't know. I'm just saying this: I'm very unhappy with the Fed because Obama had zero interest rates", Trump was quoted in the report as saying.
Information for this article was contributed by Erik Wasson of Bloomberg News.
The Fed has raised its benchmark policy rate three times this year, by a quarter-percentage point on each occasion, bringing to six the number of increases since Trump was inaugurated.