Trump slams fed chair over housing, urges big rate cuts

AWANI

U.S. President Donald Trump accused Federal Reserve chair Jerome Powell of hurting the housing market with high rates, renewing demands for sharp cuts.

Transcript

00:00U.S. President Donald Trump is accusing Federal Reserve Chair Jerome Powell of crippling the housing market,

00:06and he's stepping up calls for a sharp interest rate cut.

00:09Trump says many Americans are struggling to get mortgages under current conditions.

00:15He also argues there's little inflation pressure, pointing to economic indicators that, in his view, justify a big rate reduction.

00:25Inflation remains below the peak seen during the pandemic, but recent data present a mixed picture,

00:30with levels still above the Fed's 2% target.

00:34The Federal Reserve will meet next on September 16 and 17.

00:38Markets expects a modest 0.25% point cut, with the possibility of another later this year,

00:45far less than the multi-point reductions Trump is demanding.

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