Federal Housing Finance Agency Director William Pulte, like President Donald Trump who tapped him for the role, is pushing for Federal Reserve chair Jerome Powell to cut interest rates.
“Jay Powell needs to lower interest rates – enough is enough. President Trump has crushed Biden’s inflation, and there is no reason not to lower rates. The housing market would be in much better shape if Chairman Powell does this,” Pulte declared Monday in a post on X.
“To help reverse the damage Biden’s inflation did on the mortgage market, Jerome Powell should lower interest rates, now,” he then asserted in a tweet on Tuesday. 
Trump has been hammering the Fed chair, calling for him to lower rates.
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In an April Truth Social post, Trump referred to him as “‘Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG,” and in another post days later the president claimed that “there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW.”
But so far, Trump’s repeated demands have not been fulfilled, as the Fed has not announced any rate cuts during Trump’s second term.
The Federal Open Market Committee last decided to decrease the target range for the federal funds rate in December, after Trump’s November election victory, but before he took office on January 20th.
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“No Inflation, and Prices of Gasoline, Energy, Groceries, and practically everything else, are DOWN!!! THE FED must lower the RATE, like Europe and China have done. What is wrong with Too Late Powell? Not fair to America, which is ready to blossom? Just let it all happen, it will be a beautiful thing!” Trump declared in a Truth Social post earlier this month.
During his first term, Trump nominated Powell to serve as chair of the board of governors of the Federal Reserve system.
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President Joe Biden later tapped Powell to remain in the role for a second term.
