Continuing his criticism of the Federal Reserve, President Donald Trump said it would be a mistake if the U.S. central bank raises interest rates when it meets next week, as has been anticipated.

"I think that would be foolish, but what can I say?" Trump told Reuters in an exclusive 30-minute interview from the Oval Office.

Trump added he needed the flexibility of lower interest rates to support the broader U.S. economy as he fights a growing trade battle against China, and potentially other countries.

"You have to understand, we're fighting some trade battles and we're winning. But I need accommodation too," he said.

Trump named Jerome Powell as Fed chairman, but has repeatedly railed against him since he took over as head of the U.S. central bank last February. Trump in August told Reuters he was not "thrilled" with Powell's raising interest rates.