Trump touts strong economy, but "not happy" about rate hike

President Donald Trump and Federal Reserve Chair Jerome Powell.
President Donald Trump and Fed Chairman Jerome Powell last year. Photo: Drew Angerer/Getty Images

President Trump said Wednesday's interest rate hike is an example of how strong the economy is, but also slammed the Federal Reserve for raising rates.

Why it matters: This is not the first time Trump has publicly knocked the Fed for hiking rates, but this is definitely the fastest. At a news conference on Wednesday, Fed Chairman Jerome Powell, citing the independence of the central bank, said it "does not consider political factors" when determining monetary policy.