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Trump Accuses Powell of Crippling Housing, Demands Sharp Rate Cuts

The posts intensify pressure before Powell's Jackson Hole speech.

Overview

  • Posting Tuesday on Truth Social, Trump labeled Jerome Powell "Too Late" and said high borrowing costs are preventing people from getting mortgages.
  • He claimed there is "no inflation" and argued that "every sign is pointing to a major rate cut."
  • The Federal Reserve has resisted cutting rates, with Powell citing persistent inflation and broader economic uncertainty.
  • Powell is scheduled to speak Friday at the Jackson Hole central banking symposium, and the next Fed policy meeting is set for September 16–17.
  • Trump’s Treasury Secretary, Scott Bessent, has floated a half‑point cut in September, and Trump signaled he may allow a lawsuit over Fed building projects as House Republicans promote the TOO LATE Act to broaden removal grounds.