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Former U.S. President Donald Trump has publicly blamed Federal Reserve Chair Jerome Powell for the difficulties faced by the housing industry. On Tuesday, Trump called on Powell to reduce interest rates to help revive the housing market.
Trump frequently criticizes Powell’s monetary policies, advocating for rate cuts to stimulate economic growth. Since the Federal Reserve’s interest rate decisions significantly influence mortgage rates, they directly affect the housing sector. Higher interest rates increase borrowing costs, which slows down home sales and construction activities.
Trump contends that Powell’s current policies are negatively impacting homeowners, buyers, and builders alike. However, economists highlight that the Fed must carefully balance controlling inflation while supporting the economy — a complex challenge.
Despite Trump’s pressure, Powell continues to prioritize fighting inflation, favoring a cautious approach to raising rates. This ongoing debate about interest rates and their economic consequences remains a key discussion point among policymakers and investors.
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