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9h ago

Trump Accuses Powell of Crippling Housing, Demands Sharp Rate Cuts

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

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U.S. Federal Reserve Chair Jerome Powell gestures during a press conference following the issuance of the Federal Open Market Committee's statement on interest rate policy in Washington, D.C., U.S., July 30, 2025. REUTERS/Jonathan Ernst/File Photo
U.S. President Donald Trump looks on during a press conference with Russian President Vladimir Putin following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson, in Anchorage, Alaska, U.S., August 15, 2025. REUTERS/Kevin Lamarque
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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.