Artjom Hatsaturjants, research analyst at Accendo Markets, said "market sentiment soured on President Trump criticizing the Fed for hiking rates and threatening to go "whole hog" on imposing tariffs on all $500 billion of Chinese imports to the USA, further inflaming global trade tensions and putting at risk central bank independence".
"So somebody would say, 'Oh, maybe you shouldn't say that as president.' I couldn't care less what they say because my views haven't changed", he said. "If we see a consistent drumbeat on this from the president, it probably is going to weigh on the dollar".
"I am not happy about it".
In the same interview, taped Thursday at the White House, Trump broke with a long-standing tradition at the White House and voiced displeasure about recent actions at the U.S. Federal Reserve. He still declined to nominate her for a second term as Fed chair, choosing Powell instead.
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. In emerging markets such as Turkey, the government of President Recep Tayyip Erdogan has felt no such restraint.
"The Fed has often faced political pressures - from Congress, presidents, Treasury secretaries and innumerable outside groups", said Kroszner, an economics professor at the University of Chicago.
Trump argued the Fed's rate hikes went against "all of the work that goes into doing what we're doing".
George H.W. Bush's administration complained that he felt the Fed's failure to cut rates more quickly in 1992 contributed to his re-election defeat that year. Fed officials have penciled in two more hikes this year.
Thai Cave Rescue: Soccer Player Recalls Moment The Team Was Found
Numerous young boys said they wanted to apologise to their parents as they had not told them they were going to explore the cave. They were said to have lost an average of nine pounds while they were trapped in the cave. "The water went up to my shoulder".
Powell, perhaps wary of provoking the ire of the president, has also been particularly careful in press conferences and congressional testimony when asked to comment on Trump's tax and trade policies.
CNBC calls the rebuke "stinging and historically rare criticism", noting that presidents typically don't intercede with Fed affairs.
'Because we go up and every time you go up they want to raise rates again. It would hurt both countries, but China's "state-run government can do more to artificially prop up its economy" and a cratering USA economy would nearly surely hurt Trump's presidency.
The Federal Reserve in June raised its benchmark rate by 25 basis points to a range between 1.75% and 2%. The U.S. dollar fell to 112.46 yen from 112.84 yen earlier, and yields on Treasurys dipped slightly.
Trump had a love-hate relationship with former Fed chief Janet Yellen.
President Donald Trump upended almost three decades of presidential precedent by commenting on the Federal Reserve's interest rate policy on Thursday, but at least one economist thinks the president's remarks could come back to bite him.
But in decades past, the Fed was sometimes cajoled by the White House to keep a lid on interest rates. Oval Office tapes later revealed that Nixon demanded Burns goose the economy with low rates ahead of the 1972 election.
TRT World's William Denselow reports from NY.