Trump: Fed, Chairman Powell 'Choking Out' Housing Market

President Donald Trump on Friday accused the Federal Reserve and its chair, Jerome Powell, of "choking out the housing market" with high interest rates and making it too difficult for Americans, particularly young adults, to buy homes.

In a Truth Social post Friday, Trump, referring to Powell only by the "Too Late" nickname he gave him over the chair's refusal to cut interest rates, also called him "truly one of my worst appointments," and slammed former President Joe Biden for reappointing him to another term.

"Sleepy Joe saw how bad he was and reappointed him anyway – And the Fed Board has done nothing to stop this 'numbskull' from hurting so many people," Trump posted.

He added that the Federal Reserve board "is equally to blame."

"The USA is Rockin', there is VERY LOW INFLATION, and we deserve to be at 1%, saving One Trillion Dollars a year on Interest Costs," said Trump. "I can't tell you how dumb Too Late is – So bad for our Country!"

Trump appointed Powell in 2017, during his first term in office, with Biden reappointing him in 2022. Powell's second term will expire in 2026.

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There has been speculation that Trump could try to fire Powell and replace him with another chair, but the president said Wednesday it's "highly unlikely" he'll fire Powell, even though in recent weeks he's made frequent demands that the chair step down.

On Tuesday, while meeting with about a dozen House Republicans in the Oval Office, Trump showed a draft of a letter he wrote to fire Powell and asked the lawmakers if he should move forward, reports The New York Times, quoting people briefed on the meeting.

Trump confirmed Wednesday that he'd asked House representatives about whether he should fire Powell but said he did not have immediate plans to remove the chair.

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