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Trump: The Fed is political 'beyond anything I would have ever thought possible'

Trump: Fed is totally controlled politically

Donald Trump once again is questioning the Federal Reserve's independence.

"I believe the Fed is very political ... beyond anything I would have ever thought possible," he said Thursday during a question-and-answer session with hedge fund manager John Paulson at the Economic Club of New York.

Trump suggested the central bank would not raise interest rates this year to protect President Barack Obama and his Democratic Party. He said the same thing Monday in an interview on CNBC. In that interview, he said Fed Chair Janet Yellen should be "ashamed" of what she has done to the country.

Republican presidential nominee Donald Trump speaks at an event hosted by The Economic Club of New York at the Waldorf Astoria hotel in New York on September 15, 2016.
Mandel Ngan | AFP | Getty Images

The Fed is an independent government agency with mandates of maximum employment and price stability.

In his comments Thursday, the GOP presidential nominee questioned whether the Fed could make the right decision when faced with a political conflict.

"I really believe if it was the political decision or the right decision they're going to go with the political decision every time," Trump said.

After Trump's Fed comments on CNBC, Minneapolis Fed President Neel Kashkari rejected his assertion, telling CNBC's "Squawk Box": "Politics simply does not come up."

Billionaire entrepreneur Mark Cuban, a frequent Trump critic who endorsed his opponent Hillary Clinton, also said those comments would reduce confidence in the market.