US President Donald Trump says he has "no intention of firing" Jerome Powell after repeatedly criticising the head of the Federal Reserve, BBC reported.

But Trump added that he would like Powell to be "a little more active" when it comes to cutting interest rates.

Speaking in the Oval Office on Tuesday, he also said he is optimistic about improving trade relations with China. 

Last week, the president intensified his criticism of the Fed chief, calling him "a major loser". The comments sparked a selloff of stocks, bonds and the US dollar, but financial markets have since been recovering from those losses, according to BBC.