(AP Photo/Evan Vucci)

President Trump is going after the Chairman of the Federal Reserve after another bad day on Wall Street.

FOX's Jon Decker reports from the White House:

The President is blaming the Fed Reserve for the stock market downturn saying recent hikes in the Fed's benchmark short-term interest rate have "disappointed" him:

(President Trump): "I think the Fed is far too stringent, and they're making a mistake, and it's not right. And despite that, we're doing very well, but it's not necessary, in my opinion. And I think I know about it better than they do."

When asked about Fed chairman, Jerome Powell, the President said he would not fire him, even though the Chairman can only be removed "for cause."

At the White House, Jon Decker, FOX News.