President Donald Trump said Tuesday that the Federal Reserve is moving too quickly with interest rate increases.

“I don’t like it,” Trump said at the White House, according to Bloomberg.

“I think we don’t have to go as fast,” he added. “I like low interest rates.”

He also shrugged off concerns about inflation.

Trump has been a longtime critic of the central bank over its moves to raise rates. In July, he told CNBC’s Joe Kernen that he was “not thrilled” with the Fed’s interest rate hikes, as they would nullify the economic stimulus his administration has tried to implement through moves such as the corporate tax slash to 21% from 35%.

The Federal Reserve last raised its rates by 25 basis points in late September, bringing the benchmark federal funds rate to a target range of 2% to 2.25%. This marked the third increase this year, with the Fed signaling it would likely raise rates again in December and through 2019.

“We’re a long way from neutral”

In an interview with PBS’s Judy Woodruff last week, Federal Reserve Chairman Jerome Powell said that “we’re a long way from neutral at this point, probably” when it comes to interest rates. The Federal Open Market Committee signaled in its most recent release that it is likely to take the funds rate to 3.4% before slowing.

The benchmark 10-year Treasury note, which serves as a proxy for corporate debt and mortgage rates, surged following reports last week showing that the U.S. labor market had reached its lowest unemployment rate in nearly five-decades, coupled with continually rising wages.

Improved economic conditions have raised concerns among some experts that the Fed would push borrowing costs back toward more normal levels after a long period of low rates following the 2008 financial crisis. Some investors worry that higher rates will lead to an economic slowdown and hamper corporate profits, leading to market volatility.

Federal Reserve Chairman Jerome Powell last week dismissed notions that the booming labor market would lead to unrestrained inflation.

“The rise in wages is broadly consistent with observed rates of price inflation and labor productivity growth and therefore does not point to an overheating labor market,” Powell said, speaking at a meeting of the National Association for Business Economics. “Higher wage growth alone need not be inflationary.”

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Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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