Senate Republicans demand that Federal Reserve Chair Jerome Powell lower interest rates after a subpar July jobs report, with one calling on the head of the central bank to be "dragged out" if he doesn't.

As the global trade market is hit with President Trump's new tariffs, the latest jobs report shows job growth has slowed sharply. Trump is blaming Fed Chair Jerome Powell for the weak report. NBC News' Shannon Pettypiece and Garrett Haake have the latest reporting.

The Federal Reserve won’t cut interest rates until it sees how inflation and job creation respond to higher tariffs. The next big bite of the apple arrives on Friday with the July employment report. Here’s what to expect.

President Donald Trump called on the board of the Federal Reserve to take control from Chairman Jerome Powell if interest rates are not lowered. After a brief display of public friendliness, Trump resumed his rhetorical offensive against Powell on Wednesday after he announced that the Fed would not lower interest rates.

U.S. President Donald Trump on Friday urged the Federal Reserve board to assume control if Fed Chair Jerome Powell continues to refuse to lower interest rates.