US President Trump Blames Jerome 'Too Late' Powell For High Mortgage Rates

Last Updated:August 20, 2025, 06:56 IST

Trump’s latest remarks come just days before Powell is scheduled to speak at the annual Jackson Hole central banking symposium on Friday.

Powell has resisted recent calls for rate cuts, citing persistent inflation and economic uncertainty (Image: Reuters)

US President Donald Trump has once again taken aim at Federal Reserve Chair Jerome Powell, blaming him for damaging the housing market. In a Truth Social post on Tuesday, Trump mocked Powell as “Jerome ‘Too Late’ Powell" and accused him of failing to act in time to lower interest rates.

“Could somebody please inform Jerome ‘Too Late’ Powell that he is hurting the Housing Industry, very badly? People can’t get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut," Trump wrote.

Trump has repeatedly criticised Powell over monetary policy decisions, particularly regarding interest rates. While Powell has resisted recent calls for rate cuts, citing persistent inflation and economic uncertainty, Trump maintains that inflation is not a concern.

Trump’s latest remarks come just days before Powell is scheduled to speak at the annual Jackson Hole central banking symposium on Friday, as reported by Reuters. The Federal Reserve’s next policy meeting is set for September 16–17. In anticipation of that meeting, Trump’s Treasury Secretary, Scott Bessent, has floated the idea of a half-point rate cut in September.

Adding to the tension, a News Break report states that Trump is considering legal action against Powell over the handling of construction projects at Federal Reserve buildings. “I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings," Trump stated.

Trump has also suggested he may name a new Federal Reserve chair sooner than expected. Meanwhile, House Republicans are backing the TOO LATE Act, which would expand the grounds for removing Powell beyond the current “for cause" limit outlined in the Federal Reserve Act. Under existing law, a president may only remove the Fed chair for serious misconduct.

Much is riding on the outcome of the 43rd annual symposium at Jackson Hole this week, which may signal whether the Fed will maintain current rates in September amid inflation concerns or opt for cuts due to a softening job market.

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Washington D.C., United States of America (USA)

First Published:

August 20, 2025, 06:56 IST

News world US President Trump Blames Jerome 'Too Late' Powell For High Mortgage Rates

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