Trump Unleashes Fiery Blame on "Too Late" Powell for Crippling Housing Market, Demands Drastic Rate Cuts

Former President Donald Trump has once again cast a harsh spotlight on Federal Reserve Chair Jerome Powell, launching a scathing critique that attributes the current struggles of the American housing market directly to Powell's leadership and the central bank's delayed actions. In a recent statement, Trump didn't mince words, accusing Powell of being "too late" in his policy adjustments, thereby inflicting significant damage on a vital sector of the U.S.

economy.

Trump's primary grievance centers on the Fed's aggressive interest rate hikes implemented to combat inflation. While these measures were designed to cool down an overheating economy, the former president argues they were applied with an ill-timed hand, particularly in their impact on the housing market.

He contends that high interest rates have made mortgages prohibitively expensive, effectively sidelining potential homebuyers and dampening construction activity across the nation.

The criticism specifically targets what Trump perceives as Powell's sluggish response. According to Trump, the Fed waited too long to raise rates when inflation initially surged, and then compounded the error by keeping them elevated for an excessive period, even as economic indicators began to show signs of strain.

This "too late" approach, he asserts, has led to a market where affordability is a distant dream for many, and sales figures continue to lag.

In response to this perceived economic misstep, Trump isn't just offering criticism; he's issuing a clear demand. He is calling for immediate and "major rate cuts" to inject much-needed vitality back into the housing sector and, by extension, the broader economy.

This stance aligns with his long-held belief that lower interest rates are crucial for fostering robust economic growth, a view that frequently put him at odds with Powell during his presidency.

This renewed attack on Powell underscores the ongoing tension between political leadership and the purportedly independent central bank.

As the 2024 election cycle heats up, economic issues, particularly inflation and interest rates, are expected to remain at the forefront. Trump's latest remarks signal his intent to make the Fed's monetary policy a key battleground, highlighting his consistent advocacy for a more accommodative financial environment to spur national prosperity.