The independence of central banks, which allows policymakers to operate free from political meddling, is considered sacrosanct by investors and economists.

Trump has been highly critical of Jerome Powell this year, pressuring him to cut rates. The Fed Chair has said he's awaiting further clarity on inflation.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.

Russell T. Vought, the head of the Office of Management and Budget, said he and other administration officials wanted access to the Fed’s building in Washington.