Federal Housing Finance Agency Director Bill Pulte ratcheted up his disapproval of Federal Reserve Chairman Jerome Powell, with Commerce Secretary Howard Lutnick joining in the criticism of the central bank’s leadership.
On Sunday evening, Pulte took the X to continue his negative comments regarding Powell’s job performance, leaving a series of tweets that said, “It is time for Jerome Powell to go,” “Jerome Powell has been fueling the housing crisis for years. It is time to move on,” and “Resign Powell.” He also linked to an op-ed from a B2B website while declaring, “Even the Press recognizes the damage that the Biden/Powell 7% Rates cause.”
Pulte’s ongoing slams of Powell were joined by Lutnick, who took to X on Friday evening with his own concerns.
“The United States of America is the greatest country in the world yet it has to suffer with the highest interest rates of any first class country,” Lutnick wrote. “Our Federal Reserve Chair is obviously afraid of his own shadow.”
Lutnick, who shared an anti-Powell comment that President Trump made on his Truth Social site, added, “What was really sad about Powell’s comments is that he stated that tariffs contributed to “price increases in some of the relevant categories, like personal computers.” You would think Powell would know that there are no tariffs on personal computers. They currently don’t exist. Semiconductors and computer tariffs come out after the Commerce Department finishes its analysis. These high Interest Rates make no sense. Enough is enough!!!”
Photo: Thomas Hawk / Flickr Creative Commons
The Fed’s stubbornly high interest rates are doing more harm than good. While global peers ease policy to support growth, Jerome Powell clings to outdated fears, slowing housing and choking investment. His claim that tariffs are driving up PC prices is flat-out wrong—there are no such tariffs. If the Fed Chair is this disconnected from basic facts, how can we trust his leadership? America deserves sound policy, not shadow-chasing. Enough is enough.
That Trump appointed Pulte, a man who is completely grounded, financially, in residential real estate sales, to lead FHFA constitutes the grossest of conflict of interest. Now that same residential home builder uses this improper position to illegally coerce an agency that is, by law, independent to implement a policy that will directly increase Pulte’s already massive wealth. This is the most corrupted administration the United States has ever seen.
You’re wrong. See the first comment which is correct. You’ve just bought into the media hype of being a Trump hater even as he works to fix everything the last administration left for him.
Jerome Powell was initially nominated to be Chairman of the Federal Reserve by President Donald Trump in 2017. He was then re-nominated by President Joe Biden in 2021 and confirmed by the Senate, according to the Federal Reserve Board