President Donald Trump is chastising the Federal Reserve chairman yet again.
Powell, in a private discussion with Sen.
Almost eight in 10 economists believe the Fed's interest rate policies are "about right", according to a survey released Monday by the National Association for Business Economics.
"I asked him specifically about the independence of the Fed, and he reinforced the fact that their goal is to [address] unemployment, our economy, and that is their only objective", Scott (R-S.C.) said in an interview.
Recent presidents have largely avoided criticising the Fed, trying to preserve the bank's independence and its credibility with financial markets, foreign governments and the public.
The central bank has raised interest rates twice during Powell's tenure, and is it expected to raise rates twice more this year, including when it next meets, in September.More news: IndyCar driver Wickens to have surgery on spinal injury
This isn't the first time Trump has taken exception to the Fed's gradual interest-rate hikes.
Sen. Bob Corker (R-Tenn.) said he also met with Powell last week.
A Fed spokesman declined to comment on Trump's remarks on Monday. "This can only happen to Trump", the president reportedly joked.
Trump has broken from the majority of Republicans on monetary policy with his support for low interest rates to stimulate the economy.
Raising interest rates would increase the costs of borrowing money, which could slow economic growth and job gains. Trump has repeatedly made his displeasure with the Fed and Powell known.
Beyond criticizing the Fed for raising rates, there's little Trump can do about it.More news: Iran urges EU to speed up efforts to save nuclear deal
Will Trump be able to pressure Powell into changing course?
Neutral, he said, is somewhere between 2.5 percent and 2.75 percent.
In his interview, Trump accused the European Union and China of manipulating their currencies, adding that Beijing was weakening the yuan to offset the effects of United States tariffs.
President Trump is preparing to slap import duties on a further $200 billion of Chinese goods, meaning that his sanctions would cover almost half of imports from the country. "So I would hope the president would refrain from making comments like that". He was surprised that Powell has continued his predecessor's policy of gradually raising interest rates, according to reports. The president does choose members of the policy-setting Fed Board, and in addition to Powell, he has appointed one Fed governor and nominated three others. "I'll let you know in seven years". I probably have at times myself. Trump followed up those comments with further complaints on Twitter.
FILE PHOTO: A security guard patrols the Federal Reserve building in Washington, DC, U.S., July 16, 2018.More news: Rustie Lee on Jamie Oliver's jerk rice: 'You can't barbecue rice'