Bill Pulte, FHFA Director, echoed President Trump's sentiments, suggesting that Fed Chair Jay Powell should reduce interest rates to aid the housing market. Despite this push, Powell and the Federal Open Market Committee are cautious, preferring to wait for the full economic impact of Trump's tariffs. Recent economic data indicates inflation is near the Fed's target and employment remains strong, causing the Committee to deliberate slowly on rate adjustments. Powell's position is secure until May 2026, leaving future policymaking open to change with possible shifts in leadership.
"Jay Powell needs to lower interest rates. Enough is enough. The housing market would be in much better shape if he does this."
"The Federal Open Market Committee appears under little pressure to act, choosing instead to wait for greater clarity on the impact of recently announced tariffs before easing monetary conditions."
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