President Donald Trump renewed his criticism of Federal Reserve policy under Jerome Powell, calling the chair a "knucklehead" and advocating for interest rates to be at less than 1%.

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.