President Donald Trump continued to attack the Federal Reserve on Thursday, saying Chairman Jerome Powell is being too stringent with monetary policy and is making a mistake.

He blamed the Fed for causing a massive drop in stocks this week that took the Dow Jones Industrial Average down more than 800 points on Wednesday alone. Stocks fell again Thursday.

"It's a correction that I think is caused by the Fed and interest rates," Trump said from the Oval Office. "The dollar is very strong, very powerful – and it causes difficulty doing business."

Trump said he believes that the Fed's monetary policy "is far too stringent," adding that "they're making a mistake and it's not right."

In a response to whether he is considering firing Powell, Trump said, "No, I'm not going to fire him. I'm just disappointed."

The Federal Reserve Act of 1913 outlines the appointment and removal of Fed officials, saying they are to serve four-year terms "unless sooner removed for cause by the President." The act does not clarify what the required magnitude is for the president's cause of removal.