Still, Powell did not fuel speculation about a rate cut, saying there is "no strong case" in moving in either direction at the moment, insisting that the Fed will continue to remain "patient".
Policymakers at the Fed are expected to keep rates unchanged as they weigh the outlook for the global economy, which has been slowing down.
"Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low, and instituted a very big dose of quantitative tightening", Tweeted the President.
The decision was expected after the Fed signaled in March that it would not raise rates for the rest of the year over signs that the economy was cooling down.
But when asked by reporters Wednesday about Trump's commentary and recent Twitter outbursts, Federal Reserve Chairman Jerome Powell stated that the Fed does not take them into account.
The Fed has hiked the rate nine times since December 2015 as the economy has strengthened. It's been trying to reduce that portfolio for two years as the economy has improved by letting notes mature.
As US sanctions kick in, Indian refiners brace for costly crude
West Texas Intermediate crude futures ( WTI ) ended 31 cents, or 0.5%, lower at $63.60 a barrel, up from its $62.77 session low. Oil refiners in the USA are using more light crude to fill the gap from the sludgy, sulfurous stuff they used to get from OPEC.
This is not the first time that Trump has called Fed out in a bid to cut interest rates. It was the best performance for a first quarter in four years, and it far surpassed initial forecasts that annual growth could be as weak as 1% at the start of the year.
Possibly. But investors don't seem to think so. Moore favours cutting rates, a stance shared by Trump.
One factor in that dovish view is that the economy might not be quite as robust as the latest economic figures suggest.
On the other hand, the DXY US Dollar Index slid further into negative territory on the day.
Data collected by the Department of Labor shows median earnings have increased more rapidly for women than men over the last 25 years, but wages have gone up for both those groups over that time frame. On Monday, the government reported that the Fed's preferred inflation gauge rose just 1.5% in March from 12 months earlier. Most Americans don't mind that prices on many goods aren't rising much, leaving the Fed to mull whether it needs to adjust its target or take action to spur inflation. However, that initial rally reversed on Powell's comments on appropriate policy and transient inflation. It also raise the inflation-adjusted cost of a loan.