President Trump denied​ that he threatened to demote Federal Reserve Chairman Jerome Powell even though he says he has the right to do so.

​​”I didn’t ever threaten to demote him​,” Trump said during an interview on NBC’s “Meet the Press” that was broadcast on Sunday. “I’d be able to do that if I wanted but I haven’t suggested that.​”

The president has criticized Powell for raising interest rates, saying the hikes acted as a drag on his surging economy.

Bloomberg reported last week that the White House counsel in February had looked into the possibility of removing Powell from the top slot and making him a member of the Fed board of governors.

Trump said he believes former President Obama was better served by his Fed chairman “who kept the interest rates low.”

“I don’t have that privilege,” the president said.

Last week, the Fed reserve kept rates stable and suggested that there will not be any rate cuts in 2019.

​Trump said he’s “not happy” with Powell’s actions. ​

​”​I don’t think he’s done a good job. I think this, if he didn’t raise rates​,​ Obama had very low rates. So Obama was playing with funny money. I wasn’t. I’m playing with the real stuff​,” he said. ​