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.
United States central bankers project two more interest rate increases this year and another three in 2019. Last week, Powell said in an interview with the radio program Marketplace that he didn't expect to face pressure from the White House.
While it's been many years, the White House has also been known to exert other forms of pressure.
"But I don't like all of this work that goes into doing what we're doing, ' he vented".
He added, "No one in the administration has said anything to me that really gives me concern on this front".
The reaction to Trump's remarks in the financial markets was muted.
Stocks fell on Thursday as financial stocks snapped a three-day winning streak and Treasury yields fell.
Trump's remarks immediately raised questions about Trump's commitment to the Fed's political independence, a key pillar of the central bank's function. He said he was "not happy" about recent rate hikes.
A Fed spokesman declined to comment on Mr Trump's remarks but referred a reporter to comments Powell made this month in public radio interview in which he said he was "not concerned" by any threat to central bank's independence.
Meghan Markle Finds Certain Royal Rules 'Difficult to Understand,' Says Source
He also speculated that Markle looks "terrified" about her new royal life and all the pressures that come along with it. The magazine reported Meghan wants to return to her home country before becoming a mum for the first time.
British Open leaderboard 2018
Tiger Woods took out his driver one time and shot 71, a round slowed by a short putt he missed and a pot bunker he couldn't avoid. Kisner's best score in three previous trips to the British Open was a 69 in the final round past year at Royal Birkdale.
Telltale Releases New Trailer For The Walking Dead: The Final Season
When asked by IMDb if Season 9 would see the end of Rick's tenure, he said, "It's looking that way". We'll have to wait and see what big announcements are made (if any) at SDCC this weekend.
"As he said he considers the Federal Reserve Board Chair Jerome Powell a very good man and that he is not interfering with Fed policy decisions - 'I'm letting them do what they feel is best, '" a White House spokesperson said in a statement.
"I am not pleased", said Carl Tannenbaum, a former Chicago Fed official and chief economist at Northern Trust.
But the president also acknowledged he was aware of the traditions that president's typically allow the Fed to operate independently to ensure the smooth functioning of the world's largest economy. "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".
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.
It's always been speculated that the taboo of commenting on US monetary policy could change under Trump, who slammed the Fed during his election campaign and has demonstrated repeatedly his willingness to flout the conventions and sensibilities of establishment Washington.
If the Fed moves too aggressively, however, it could curb economic activity so severely that it helps to provoke a recession.
When Robert Rubin led President Bill Clinton's National Economic Council, he adopted a rule of never commenting on the Fed's actions - a policy that was subsequently followed by the George W. Bush and Obama administrations.
The last known example of US presidential strong-arming came when George H.W. Bush was fighting for re-election.