In bilayer graphene rotationally faulted to theta=1.1 degrees, interlayer tunneling and rotational misalignment conspire to create a pair of low energy flat band that have been found to host various correlated phenomena at partial filling. Most work to date has focused on the zero magnetic field phase diagram, with magnetic field (B) used as a probe of the B=0 band structure. Here, we show that twisted bilayer graphene (tBLG) in a B as low as 2T hosts a cascade of ferromagnetic Chern insulators with Chern number |C|=1,2 and 3. We argue that the emergence of the Chern insulators is driven by the interplay of the moire superlattice with the B, which endow the flat bands with a substructure of topologically nontrivial subbands characteristic of the Hofstadter butterfly. The new phases can be accounted for in a Stoner picture in which exchange interactions favor polarization into one or more spin- and valley-isospin flavors; in contrast to conventional quantum Hall ferromagnets, however, electrons polarize into between one and four copies of a single Hofstadter subband with Chern number C=-1. In the case of the C=\pm3 insulators in particular, B catalyzes a first order phase transition from the spin- and valley-unpolarized B=0 state into the ferromagnetic state. Distinct from other moire heterostructures, tBLG realizes the strong-lattice limit of the Hofstadter problem and hosts Coulomb interactions that are comparable to the full bandwidth W and are consequently much stronger than the width of the individual Hofstadter subbands. In our experimental data, the dominance of Coulomb interactions manifests through the appearance of Chern insulating states with spontaneously broken superlattice symmetry at half filling of a C=-2 subband. Our experiments show that that tBLG may be an ideal venue to explore the strong interaction limit within partially filled Hofstadter bands.