Overview

• William Pulte urged Fed Chair Jerome Powell on social media to resume rate cuts to support the struggling housing market.
• President Trump has repeatedly called for lower interest rates, attributing tariff-driven costs to rising business prices.
• The Fed halted rate-cutting in January, keeping its benchmark rate at 4.25–4.5% because of uncertainty over trade policies.
• Headline CPI inflation slowed to a 2.3% annual rate in April while shelter inflation remained at 4% and 30-year mortgage rates hovered near 6.86%.
• Vice President JD Vance criticized Powell’s approach and the Fed chief indicated the central bank may revise its inflation strategy beyond the 2% target.