JPMorgan Chase boss Jamie Dimon warned President Donald Trump on Tuesday about attacks against Federal Reserve Chairman Jerome Powell, noting the importance of the Fed's independence.

President Trump criticized Jerome Powell as 'very bad for the country,' arguing the Fed should have lower interest rates while questioning the $2.5 billion building project.

The Trump administration has used the pricey project as a means to attack Federal Reserve chair Jerome Powell.

Trump administration officials, already agitated by the board’s monetary policy, are calling for Chairman Powell’s removal for ‘malfeasance.’

Michelle Bowman of the Fed emphasized financial inclusion and the need for innovation to serve unbanked populations at a conference.

New data from the Labor Department shows inflation ticked up to its highest level since February in June with consumer prices rising at an annual rate of 2.7%. CBS News MoneyWatch correspondent Kelly O'Grady has more.

Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.

What is the Federal Reserve — and why does it meet? The Federal Reserve is the central bank of the United States and the anchor of the country's financial system and economic health.

The Fed's Bernanke-era quantitative approach has provided steady economic growth. Click here to find out what remains central to the Fed's strategy.