Trump’s blasting of the Federal Reserve and Jerome Powell came just hours after the announcement that interest rates would stand at 4.25% to 4.5%.

Trump, who appointed Jerome Powell, has called for lower interest rates and said he believes the president should get a say on the Fed's rate decisions.

The US Fed held rates steady, reaffirming its independence despite President Donald Trump’s demands for cuts. Fed Chair Jerome Powell dismissed political pressure, while Trump accused the Fed of failing to control inflation.