President Trump Donald John TrumpSteele Dossier sub-source was subject of FBI counterintelligence probe Pelosi slams Trump executive order on pre-existing conditions: It 'isn't worth the paper it's signed on' Trump 'no longer angry' at Romney because of Supreme Court stance MORE on Friday accused the Federal Reserve of having a "faulty thought process," arguing that the central bank should lower interest rates to match foreign competitors.

Because of the faulty thought process we have going for us at the Federal Reserve, we pay much higher interest rates than countries that are no match for us economically. In other words, our interest costs are much higher than other countries, when they should be lower. Correct! — Donald J. Trump (@realDonaldTrump) July 19, 2019

In follow-up tweets, Trump again blamed the Fed for slowing economic growth by raising interest rates. He appeared to reference comments from New York Federal Reserve President John Williams a day earlier in which Williams said central bankers must "act quickly" as growth slows.

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CNBC reported that markets took Williams's comments to indicate a coming rate cut, but a Fed spokesperson later clarified that Williams was speaking historically and not about potential policy actions.

"I like New York Fed President John Williams first statement much better than his second," Trump tweeted. "His first statement is 100% correct in that the Fed 'raised' far too fast & too early."

....but it is no thanks to the Federal Reserve. Had they not acted so fast and “so much,” we would be doing even better than we are doing right now. This is our chance to build unparalleled wealth and success for the U.S., GROWTH, which would greatly reduce % debt. Don’t blow it! — Donald J. Trump (@realDonaldTrump) July 19, 2019

The president has been fiercely critical of Fed Chairman Jerome Powell’s leadership, accusing him of hindering economic growth through rate hikes. His constant critiques have roiled observers of the Fed, which is meant to be nonpartisan.

The Fed has hiked interest rates nine times since 2015 and seven times since 2017, including four under Powell, who took over as chairman in 2018 after being nominated by Trump.

Trump has said he intends to nominate former campaign adviser Judy Shelton and Christopher Waller, executive vice president at the Federal Reserve Bank of St. Louis, to two open spots on the Fed board of governors.

Shelton in particular has echoed Trump's views that interest rates should be slashed.

Trump has yet to formally nominate either individual, both of whom will require Senate confirmation.

Updated at 10:23 a.m.