'One of my worst appointments’: Trump again lashes out at Jerome Powell for ‘choking out’ US housing markets

US President Donald Trump on Friday (July 18) accused Federal Reserve Chair Jerome Powell of “choking out the housing market” owing to their high interest rate. As Trump has been lashing out at the Federal Reserve chief, he called him “one of his worst appointments”. The US president took to Truth Social, slamming Powell, as he continued to say that former President Joe Biden knew how bad Powell was, and still reappointed him anyway.

He further complained that even the Feb Board did nothing to stop him.

“Too Late,” and the Fed, are choking out the housing market with their high rate, making it difficult for people, especially the young, to buy a house. He is truly one of my worst appointments. 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 said in his post.

Trump stressed that the board is equally to blame. “In many ways, the 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.”

He continued, “I can’t tell you how dumb Too Late is - So bad for our Country!”

Earlier this week, the US president dismissed reports claiming he planned to fire Jerome Powell, saying that although he did discuss the idea with Republicans. “Almost every one of them said I should, but I’m more conservative than they are,” Trump said.

Several outlets, including Bloomberg and The New York Times, had reported that Trump drafted a letter to dismiss Powell and asked Republican allies for advice on whether to send it.

Although he said he was unlikely to remove Powell, Trump added, “I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud.” He repeated his long-standing criticism of the Fed chair, “He’s always been too late, hence his nickname ‘Too Late’. He should’ve cut interest rates a long time ago.”

Trump claimed Powell only reduced rates to help Democrats in the 2024 election, adding, “He’s doing a lousy job, but no, I’m not talking about that.”