As part of his campaign to get rid of Jerome Powell, President Donald Trump has blamed the Federal Reserve chair for costing the country “hundreds of billions of dollars” by not slashing interest rates.

Governor Christopher Waller's comments come as tensions between Fed Chair Jerome Powell and President Donald Trump have reached a boiling point in recent days.

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.