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.

Donald Trump will be hit with a $60bn (£44bn) bill if he follows through on his threats to sack Federal Reserve chairman Jerome Powell, analysts have warned.

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.

The Trump administration has also been highly critical of Powell in the past for not cutting interest rates despite low inflation and improved job numbers.

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.

If Trump allies really wanted to see homes become more affordable, he would push for less monetary inflation and for lower federal deficits.

Federal Reserve Chair Jerome H. Powell is resisting President Donald Trump’s calls for lower interest rates, saying the Fed should not take debt and deficits into account.

Right now, inflation is still hovering just above the Federal Reserve’s target and data is mixed. That’s why Fed Chair Jerome Powell is keeping rates steady, despite public calls for action