But rate increases also make borrowing costlier for households and companies and risk weakening growth. The central bank is expected to hike two more times before the end of the year.
The president acknowledged that his comments about the Fed would likely arouse concerns.
The Fed's dual mandate is to maximize employment and stabilize prices. It was the seventh rate hike since the depths of the financial crisis. That policy drew rebukes from many Republican lawmakers.
Trump added that he was concerned that the Fed's rate hikes may put the United States at a "disadvantage" while the Bank of Japan and the European Central Bank keep their monetary policy loose, CNBC said. Last week, Powell said in an interview with the radio program Marketplace that he didn't expect to face any pressure from the White House.
"But I don't like all of this work that goes into doing what we're doing".
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"I don't really - I am not happy about it", Trump said in excerpts released by the network.
Still, President Trump voiced concern that the higher rates and a stronger dollar may put the USA at a disadvantage while Fed counterparts in the Bank of Japan and the European Central Bank keep rates low, maintaining loose monetary policy.
In a later statement to CNBC, the White House said Trump "respects the independence of the Fed" and "he is not interfering with Fed policy decisions".
In the interview, to be aired in full Friday, Trump also said he had "put a very good man" into the Fed chairman's job. "The remarks certainly aren't an immediate threat to Fed independence, but they break with the tradition of respectful distance".
Powell has said he believes the economy is strong enough for the Fed to continue normalizing rates, which were held at a historically low level during the recovery.