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Trump criticizes Fed chairman: Refusing to cut interest rates leads to lagging housing market; should lower by 3 percentage points.
[Block Rhythm] On July 23, U.S. President Trump stated on his personal social platform, "The housing issue in our country is lagging because 'Mr. Too Late' Powell refuses to lower interest rates. Families are being hurt because interest rates are too high, and even our country itself is paying higher interest than it should - all because of this 'Mr. Too Late.'
"Our interest rate should be three percentage points lower than it is now, which would save the country 1 trillion dollars every year. This stubborn guy just doesn't understand—didn't understand before, won't understand in the future. The Federal Reserve Board should take action, but they don't have the courage to do so!"