Editor's PiCK
Trump: "If Jerome Powell does not implement a large rate cut, a 'disaster' will come"
YM Lee
Summary
- President Donald Trump stated that Jerome Powell, the Fed Chair, is causing great harm to the U.S. housing industry by not cutting interest rates.
- President Trump indicated that Chair Powell is responsible for the current situation, which has made obtaining mortgage loans difficult.
- President Trump claimed that inflation does not exist and warned that a 'disaster' could occur if a large rate cut is delayed.
Donald Trump, President of the United States, publicly criticized Jerome Powell, Chair of the U.S. Federal Reserve, once again.
On the 20th (local time), President Trump stated on his Truth Social, "I hope someone tells Jerome Powell. He is causing great damage to the United States housing industry. People are unable to obtain mortgage loans because of Powell."
He added, "Inflation does not exist, and all indicators are pointing toward a large rate cut. Rate cuts that are too late are a 'disaster.'"
YM Lee
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