President Donald Trump has intensified his criticism of Federal Reserve Chairman Jerome Powell, aiming to replace him with someone who will lower interest rates.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

The Bureau of Labor Statistics on Tuesday released June inflation data, showing prices increased from the prior month. Hours later, President Trump called on the Fed to lower rates.

A top White House budget official said President Trump is "troubled" by Federal Reserve chair Jerome Powell's management, as Mr. Trump pressures him over interest rates.

President Trump escalates pressure on Federal Reserve Chairman Jerome Powell to lower interest rates by targeting the Federal Reserve's costly renovation plans. Trump's tactics include appointing allies to review the renovations and publicly criticizing Powell,

Economists expect the Consumer Price Index, to be released at 8:30 a.m., to show that the annual rate of so-called core inflation edged up to 3 percent in June as businesses started to pass some of the $100 billion collected in import taxes along to consumers.

WASHINGTON, July 9 (Reuters) - U.S. President Donald Trump on Wednesday called on the Federal Reserve to lower the federal benchmark interest rate by at least 3 percentage points, renewing his call for the U.S. central bank to lower rates to help reduce the cost to service the nation's debt.

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

Inflation is up, stocks are down, and more tariffs are on their way. Trump wants interest rates to come down but the direction of travel is making it less likely that the Fed will deliver the cuts he wants.