Welcome to the NewsHour. New data show inflation picked up last month, and analysts believe the

prices of many goods increased, in part, because of President Trump's tariffs. Inflation rose 2.7%

compared to a year ago, and prices increased broadly by 3 tenths of a percent last month.

While that's not a huge hike, it is the largest monthly increase since January,

and it will play into decisions by the Federal Reserve about when and whether to finally cut

interest rates.

This comes as the president and his team have ramped up their pressure campaign on Federal Reserve

Chair Jerome Powell to lower

those rates. They've also openly speculated about firing him. Earlier today, the president was

asked about Powell and when the two had last spoken. I told him he's doing a very bad job.

He's way late. That's why I call him too late. Jerome Powell is too late. He's way

late. Interest rate should be coming down. We have a very, very successful country. We should have

the lowest interest rate anywhere in the world, and we don't. Jerome Powell has done a terrible

job, and frankly, I don't think he could do a worse job.

He's called everything wrong. For more, we are joined again by David Wessel. He's director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.

David, nice to have you back again. Before we get to Powell, help us understand these inflation

numbers and the price hikes. Is it because of the tariffs? Well, you know, when we get these

measures of inflation, some things have gone up and some things have gone down. Airfares

are down, for instance, in the last in June. But what analysts are picking up is a number of

prices of goods that are imported, apparel, appliances, toys went up in June. Women's dresses

were up 3.9% in June alone. And so many analysts are saying that this is the beginning of a sign that tariffs are pushing up prices, just as economists had been predicting, hasn't happened as quickly as they had anticipated, in part because the tariffs were on again and off again.

So how is that information going to be perceived by the Fed as they weigh this issue of when to raise rates?

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