Federal Housing Finance Agency (FHFA) Director Bill Pulte has taken an unprecedented move in openly calling on Federal Reserve Chairman Jerome Powell to lower rates.
In a posting on his personal X account – which he now mostly uses for FHFA messaging – Pulte wrote, “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.”
While President Trump has been openly critical of Powell’s job performance, it is extremely uncommon for the leader of a regulatory agency to openly criticize the work of the central bank leader. Neither Powell nor Trump commented on Pulte’s message.
Pulte also used X to announce, “I’ve been told that the offices for Fannie and Freddie across the USA are looking forward to and getting ready for me to visit! Great! It’s about time we get rocking & rolling at Fannie and Freddie!” However, he did not announce which offices he would be visiting and when that would occur.
Every home that sells puts people to work supplies purchased furniture bought the list goes on let’s get this market rolling lower interest rates will stimulate the economy and let the empty nesters move to other homes they don’t want to give up their lower rates and is holding them back! Credit cards are high rates upper 20 to low 30 ! Lower the rates !!!
The executive branch should NOT be advising the Federal Reserve. They are separate for a reason. 6.5% interest isn’t a bad rate, in fact it is quite decent historically speaking. Just because the Fed had to go to “0” due to Trump’s dreadful handling (or mishandling) of Covid, to avoid a recession, doesn’t mean that 0% reflects a healthy economy. In fact it would be the opposite. Please let the adults in the room do their job, and the uninformed cabinet members should probably do what they do best, nothing.
Go back to building houses… Lower rates will drive up demand, which will further drive up home prices by putting pressure on the existing supply of housing stock.
An appointee from the RUMP wants to lower interest rates. Our economy is already on fire; housing demand has been increased by speculators including large funds some which trade on wall street. This will destroy the ability for a normal person to buy a home. Unemployment is going up; it will be unexpected rise between federal and corporate downsizing to max profits. The economy is spinning. Hoover (from the tariffs) never expected a depression. There were no watchdogs. The very watchdogs put in place to stop the nonsense have been removed and fired. The only one to gain is the fat sick man in the oval office. A war which no one can win will occur, this man will not want to leave office. He has already tried. PENCE stopped it! WE are lucky. So now the removal of the watch dogs has weakened our country. The Rump appoints who have an IQ of 0 are now in place for him a man who has gone bankrupt and ran Atlantic City in the ditch making decisions from the seat of his fat pants. TARIFS will not work. You cannot take a hatchet and think it’s doing its job. I’m neither democrat nor a republican although both think I am on both sides. WETHE PEOPLE NEED COMMON SENSE POLICY AND REMOVED THE EXTEREMIST THAT ARE CREATING THE PROBLEMS. What we needed is a scalpel! Not dumb lying rhetoric. Put it this way I would rather wake to a sleepy Joe Biden. This has been problem started from Buch Jr administration which depended on a real estate market to keep us going. not one president can make the change, I do not want a dictator as a President. Especially one who is not smart. ASK him for his WHARTON grades. From what i understand they were impressive as me wiping my dog’s ass!
Forgive me I left A in several places of my rant!