Raging Trump escalates attacks on Jerome Powell: 'People can’t get a mortgage!'
President Donald Trump once again attacked Jerome Powell, chair of the Federal Reserve, bemoaning Tuesday afternoon that Powell is "hurting the housing industry."
Trump took to his Truth Social platform to take aim at Powell, a frequent target of Trump who has opposed lowering interest rates.
"Could somebody please inform Jerome 'Too Late' Powell that he is hurting the Housing Industry, very badly? People can’t get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut. 'Too Late' is a disaster!" Trump raged.
Powell and the Fed have resisted cutting interest rates recently due to ongoing concerns about elevated inflation and economic uncertainty. Powell has repeatedly said the Fed is trying to strike a balance between key risks. Cutting rates too early could exacerbate inflation, which remains above the Fed’s 2% target. On the other hand, waiting too long to cut them could harm the labor market or slow economic growth for no reason.
The two men have butted heads frequently this year.
Just last month, Powell delivered a brutal fact-check to Trump's face, stunning onlookers.