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US President Donald Trump said on Wednesday that the Federal Reserve "has gone crazy" by raising interest rates too much.

Speaking as he arrived in Erie, Pennsylvania for a rally, shortly after Wall Street closed down sharply, with the Dow Jones Industrial Average losing more than 800 points, Trump made his latest attack on the independent US central bank.

"I think the Fed is making a mistake. It's so tight. I think the Fed has gone crazy," he told reporters.

US President Donald Trump said on Wednesday that the Federal Reserve "has gone crazy" by raising interest rates too much.

Speaking as he arrived in Erie, Pennsylvania for a rally, shortly after Wall Street closed down sharply, with the Dow Jones Industrial Average losing more than 800 points, Trump made his latest attack on the independent US central bank.

"I think the Fed is making a mistake. It's so tight. I think the Fed has gone crazy," he told reporters.

Trump says 'the Fed has gone crazy' with rate hikes

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