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President Donald Trump publicly insults Federal Reserve Chair Jerome Powell, angry over unchanged interest rates.

It hasn't been an easy start to 2025 for Jerome Powell. Unfortunately for the Fed chair, the second half of the year is likely to be even tougher.

The US Labor Department announced on Tuesday that the Consumer Price Index in June rose 2.7 percent from a year earlier. That was the fastest pace since February.

Treasury Secretary Scott Bessent, in an interview on Bloomberg Television, said he hasn't looked at the CPI number that's about to be released -- he is entitled to early access --but said not to read too much into one month's number.

The tariff-driven inflation that economists feared begins to emerge after President Donald Trump's sweeping moves.

The US central bank is grappling with housing issues on three fronts: inflation, rate policy, and its own headquarters.

Economists expect the Consumer Price Index, to be released at 8:30 a.m., to show that the annual rate of so-called core inflation edged up to 3 percent in June as businesses started to pass some of the $100 billion collected in import taxes along to consumers.