JPMorgan Chase CEO Jamie Dimon defended the Federal Reserve's independence amidst President Trump's pressure for rate cuts, cautioning against policy interference. Dimon highlighted potential adverse consequences of meddling with the central bank.

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 Fed has long maintained independence from the White House to avoid political pressures influencing monetary policy.

Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.

Inflation rose in June as President Donald Trump’s tariffs began to push up the prices of certain goods, undermining his attempts to pressure Federal Reserve Chair Jerome Powell to lower interest rates.

President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

President Donald Trump ramped up the pressure on Jerome Powell, attacking the Federal Reserve Chair over the costly renovation of the central bank’s headquarters and again calling for him to step down.

Trump criticizes Federal Reserve Chairman Powell for expensive headquarters renovations while expressing frustration over interest rate decisions and previewing upcoming trade deals.