In a pair of tweets, Trump said China, the European Union and others had been "manipulating their currencies and interest rates lower" while the USA dollar strengthened, eroding "our big competitive edge".
On Thursday, Trump said he is "not thrilled" about Fed interest rate hikes.
"We're down a tremendous amount", Trump said in an interview about trade imbalances with China on CNBC television broadcast on Friday. "I couldn't care less what they say, because my views haven't changed".
"It's proof, if it were needed, that the president is prepared to go all the way in the trade war to exact concessions from China, which simply can not match the U.S. firepower".
"We've been ripped off by China for a long time", he added. In a flurry of early morning Twitter posts, Mr Trump complained that the Fed's pattern of rate increases "hurts all that we have done" and that a "stronger and stronger" U.S. dollar was "taking away our big competitive edge". Powell was a governor on the Fed and has largely followed the path the Fed has been on for years, slowly raising interest rates as the economy strengthens, unemployment declines and inflation stirs.
Excerpts of the CNBC interview were released yesterday in which Trump criticized the Federal Reserve for raising interest rates.
Trump defended his comments to CNBC by saying he is "just saying the same thing that I would have said as a private citizen".
Later, the White House said in a statement that Trump respects the Fed's independence and was not interfering with its policy decisions. Yields on Treasuries climbed the most since May as Trump reiterated that he's unhappy with the Federal Reserve tightening after the administration has worked so hard to grow the economy.
Mr. Trump's economic policies, including the biggest tax cut in US history, have fueled a strong economic expansion and record low unemployment. "I really like President Xi (Jinping) a lot". "The economy has been on its strongest footing in some time".
Powell said on Wednesday that the U.S. economy is on the cusp of "several years" in which the job market remains strong and inflation stays around the Fed's 2 per cent target.
A top Federal Reserve official, meanwhile, warned the trade war could hurt the USA economy. Its rate hikes are meant to prevent the economy from overheating and igniting high inflation.
China would not be able to match the U.S.in a back-and-forth tariff battle given that the us imports significantly more from China.
American companies may find themselves less able to compete globally as import tariffs contribute to rising input costs, forcing them to raise prices or lower their profit margins.
"It would be much easier for me", Trump continued.
In the interview, which was recorded Thursday, Trump also indicated his willingness to endure stock market volatility as he pursues an aggressive trade agenda with China. I put a very good man in the Fed.