In his stinging monthslong campaign to badger Federal Reserve Chair Jerome Powell into lowering interest rates, President Donald Trump has relied on a variety of arguments. He's pointed to the European Central Bank's two percentage points of rate cuts and a report showing weakening private-sector job growth.

Fed Chair Jerome Powell effectively told President Trump on Tuesday that he's his own worst enemy in his crusade for rate cuts. He was speaking specifically about the tariffs Trump has announced and implemented,