Trump has threatened to slap a 25% tariff on imported cars and components, with a commerce department review underway to establish whether this is justified on national security grounds.
America's central bank has twice increased benchmark lending rates this year, following three raises last year.
After the interview, Trump reiterated criticism of planned interest-rate hikes by the Federal Reserve, saying in a Twitter post that tightening policy would diminish any U.S. advantage in trade and exacerbate losses from "BAD trade deals".
The chance inflation might accelerate has increased after the massive tax cut Trump championed past year, which has raised the United States debt and budget deficit.
In February, Jerome Powell, Trump's hand-picked choice, became Fed chairperson. "So somebody would say, 'Oh maybe you shouldn't say that as president.' I couldn't care less what they say, because my views haven't changed".
"The [Fed's policy] committee has a mandate to keep inflation low and stable and obtain maximum employment for the United States economy, so people can comment, including the president and other politicians, but it's up to the committee to try to take the best action we can to achieve those objectives", St. Louis Federal Reserve Bank President James Bullard said Friday.
Shipping containers, including those of China Shipping, a shipping conglomerate under direct administration of China'a State Council, await transportation on a rail line at the Port of Long Beach on July 12, 2018 in Long Beach, California.
President Trump, Russian President Putin Hold Joint News Conference Following Summit
Trump and Putin will then hold a working lunch together with their ministers and advisers, followed by a joint press conference. The Russian leader called the first meeting "a good conversation", adding "I hope we start to get to know each other better".
But current and former Fed officials didn't sound overly concerned about the commander-in-chief's perspective. "The remarks certainly aren't an immediate threat to Fed independence, but they break with the tradition of respectful distance". "It would lead to fears that the Fed won't be as vigilant against inflation", Valliere said. And because we live in a reality where logical human behavior reigns supreme, the president has remained demure on all Fed-related topics this morning...
"I'm not doing this for politics".
The central bank's job is to keep prices stable, including raising interest rates to prevent the economy from overheating and inflation from rising.
Why does the Federal Reserve raise interest rates?President Richard Nixon encouraged Arthur Burns, the Fed chairman at the time, to help boost economic growth ahead of Nixon's 1972 landslide re-election. I don't necessarily agree with it, because he's raising interest rates, I'm not saying that I agree with it, and I don't necessarily agree with it.
George H.W. Bush's administration complained that he felt the Fed's failure to cut rates more quickly in 1992 contributed to his re-election defeat that year.
Trump's comments, a breach of the usual determination presidents take to steer clear of the independent Federal Reserve, come as Trump tries to boost exports by demanding trading partners lower tariff barriers.