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Trump: No regrets over appointing Powell to lead Federal Reserve

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Trump: No regrets over appointing Powell to lead Federal Reserve

Despite publicly criticizing Federal Reserve interest rate hikes over the past two months, U.S. President Donald Trump told Bloomberg News that he does not regret appointing Jerome Powell as chairman of the central bank.

In an interview in the Oval Office, Trump told the news service that he likes and respects Powell. While Trump does not like "not being accommodated," he said he is "not sure the currency should be controlled by a politician."

As previously reported, Trump said policy tightening could hurt the economy and that the Fed should help as the U.S. negotiates trade deals with other countries. He also previously accused China and the European Union of "manipulating" their currencies and interest rates.

The Fed has raised rates twice under Powell's leadership, and is planning for two more rate hikes in 2018.