US President Donald Trump said on Monday he was "not thrilled" with Federal Reserve Chairman Jerome Powell for raising interest rates and accused China and Europe of manipulating their respective currencies.

Donald Trump has criticised the US Fed chief for raising interest rates. Credit:AP

Trump, who spooked investors in July when he criticised the US central bank's monetary policy tightening, told Reuters in an interview that he believed the Fed should be more accommodating.

"I'm not thrilled with his raising of interest rates, no. I'm not thrilled," Trump said in the interview, referring to Powell. Trump nominated Powell last year to replace former Fed Chair Janet Yellen.

American presidents have rarely criticised the Fed in recent decades because the independence of the Fed is seen as important for economic stability.