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.
Source:
https://www.newsmax.com/politics/donald-trump-jerome-powell-fire/2025/07/18/id/1219194/