President Donald Trump on Thursday slammed the Federal Reserve by praising the European Central Bank for cutting rates recently, despite it “hurting U.S. exports.

"European Central Bank, acting quickly, Cuts Rates 10 Basis Points," Trump tweeted Thursday morning. "They are trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting U.S. exports.... And the Fed sits, and sits, and sits. They get paid to borrow money, while we are paying interest!"

In an effort to boost the economy in the Eurozone, the ECB on Thursday announced that it will slash its main deposit rate to negative 0.5 percent, after which the euro dropped by 0.75 percent to under $1.09.

“The Governing Council expects (bond purchases) to run for as long as necessary to reinforce the accommodative impact of its policy rates, and to end shortly before it starts raising the key ECB interest rates,” the bank wrote in a policy statement, according to the Express.

“The Governing Council now expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, two percent within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics.”

When asked about Trump’s tweet, ECB President Mario Draghi told reporters at a press conference, “we have a mandate, we pursue price stability and we don’t target exchange rates, period,” according to CNBC.

• ECB Cuts Rates, Restarts QE to Fight Slowdown as Draghi Era Ends
• Trump's Latest Tweet on Fed, US Debt Called 'Recipe for Disaster'