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EghtesadOnline: White House economic adviser Gary Cohn said on Sunday that the Federal Reserve "has been doing a good job" and the Trump administration respects its independence, even if the U.S. central bank raises interest rates this week.

Cohn, director of the National Economic Council, told Fox News Sunday that the Trump administration will keep working to reduce barriers to job creation no matter what the Fed does on interest rates, according to Reuters.

"The Federal Reserve is an independent agency and they operate as such. They have their economic data, which they look at and they are trying to always modulate economic growth with inflation, with the work force," Cohn said. "I think the Federal Reserve has been doing a good job in doing that. The Fed will do what they need to do. And we respect the powers of the Fed."

Donald Trump Federal Reserve US interest rates Gary Cohn