Trump touts falling oil prices: 'Way to go president T'

President TrumpDonald John TrumpChelsea Clinton announces birth of third child Ukrainian officials and Giuliani are sharing back-channel campaign information: report Trump attacks 'the Squad' as 'racist group of troublemakers' MORE thanked himself for falling oil prices in a tweet Sunday.

Trump likened the recent drop in oil prices to “a big Tax Cut.”

“So great that oil prices are falling (thank you President T),” the president wrote. “Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!”

The tweet comes days after Trump thanked Saudi Arabia for falling oil prices and urged: “Let’s go lower!”

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Last week, Trump reaffirmed the U.S.-Saudi relationship despite the killing of Saudi journalist Jamal Khashoggi. The president declined to criticize Saudi Crown Prince Mohammed bin Salman for Khashoggi’s death, despite intelligence reports that the crown prince likely ordered the assassination inside the Saudi consulate in Istanbul.

Trump has indicated that issuing sanctions or punishing Saudi Arabia over Khashoggi would result in a spike in oil prices.

“If you want to see oil prices go to $150 a barrel ... all you have to do is break up our relationship with Saudi Arabia,” he said last week.

Saudi Arabia is the third-highest global producer of oil.

The Wall Street Journal reported Friday that Trump has been expressing dissatisfaction with Treasury Secretary Steven MnuchinSteven Terner MnuchinPelosi, Mnuchin reach 'near-final agreement' on budget, debt ceiling Don't let budget talks threaten Medicare Part D The Hill's Morning Report — Mueller Time: Dems, GOP ready questions for high-stakes testimony MORE for backing Federal Reserve Chairman Jerome Powell and for recent volatility in the stock market.

The president has publicly sounded off on Powell's decision to raise federal interest rates, claiming that it has endangering the country's economic growth.

Trump in an October interview called the Fed his "biggest threat" and suggested that he may have made a mistake appointing Powell.