President Trump said Wednesday afternoon he's 'not happy' the Federal Reserve raised rates.

Earlier in the day the central bank's monetary-policy committee, led by Chairman Jerome Powell, raised rates by 0.25 percentage point to a range between 2% and 2.25%.

While he said he was disappointed at the latest move by the Fed, he insisted the FOMC acted "because we're doing so well."

U.S. stocks fell sharply to end the day lower in the wake of the Fed decision.

Trump's remarks came at a press conference in New York where he also commented on the latest allegations of sexual misconduct against Supreme Court nominee Brett Kavanaugh.

Trump stopped short of calling the three women who have accused Kavanaugh of sexual misconduct liars. But he called the charges "a big fat con job," and said Democrats "laugh like hell about what they've pulled off."

The Senate judiciary committee is slated to hear testimony from one of Kavanaugh's accusers Thursday, and to vote Friday on whether to recommend the nomination to the full Senate.