While almost no one thinks Donald Trump's verbal attacks on Federal Reserve Chair Jerome Powell are a positive development, they have electrified the debate about whether the U.S. president is right that interest rates are too high.

President Trump's war on Federal Reserve chair Jerome Powell is taking on a more aggressive form, bringing Trump a step closer to trying to oust the head of the Fed. Why it matters: Trump wants Powell to cut interest rates,

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 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 central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

President Donald Trump’s pressure campaign against the Federal Reserve and Chair Jerome Powell to lower interest rates entered a new front this week

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.

CNBC's "Closing Bell" team discusses what to expect from upcoming bank earnings with Stephen Biggar, director of financial services research at Argus Research.