They press Powell to give up
In a recent publication, Williamuffa, director of the Federal Housing Financing Agency (FHFA), requested the “immediate” resignation of Jerome Powell, president of the Federal Reserve (Fed).
It is not the first time that About, who last week won interest in the cryptocurrency community for allowing these assets to ask for mortgages, criticizes Powell for his monetary policy. Days ago he accused him of being disconnected from the needs of common citizens, who depend on loans for cars, cards and mortgage loans.
In his message, he also shared a comment by Senator Tommy Tuberville in which he also asks for the dismissal of the president of the Federal Reserve, for his disagreement in how he manages monetary policy.
In addition, President Donald Trump has intensified his criticisms of Powell since the beginning of his second term. He maintains that His refusal to reduce interest rates is negatively affecting the US economy.
For Trump, an immediate reduction of interest rates would boost the real estate sector and relieve the financial burden of citizens, as well as benefit the economy in general and markets.
Thus, the Republican leader has argued that Powell “always arrives too late,” noting that the European Central Bank has cut rates on multiple occasions while the Fed remains motionless.
To the criticisms of the political sphere, the Republican Senator for Ohio, Bernie Moreno, was also added. In a post, the official said that, under Donald Trump’s leadership, inflation is under control, but accused Powell of generating huge costs for the country by refusing to reduce interest rates.
This position, says the senator, costs the United States hundreds of billions of dollars a yearespecially affecting working families. In that context, he considered that Powell should “do the right thing” and present his resignation.
Roger Stone, a political consultant and firm ally of Donald Trump, who lashed out at Powell for being based on outdated data to make key decisions. According to the specialist, the position of the Fed president is equivalent to “driving looking at the rearview.”
In addition to criticism from the public sector, the investor and fund administrator Grant Cardone has expressed that Powell’s measures have seriously affected the US middle class.
According to Cardone, The increase in rates by the Fed has tripled the cost of mortgageswhich has significantly stopped the real estate market, reducing the supply of housing and causing an increase in prices.
As Cryptonotics reported, despite Trump and Powell tensions they met at the end of May at the White House. The meeting, requested by the US president, addressed issues such as economic growth, employment and inflation.
Powell emphasized that Fed decisions are based on a “careful and objective” analysis, and that The evolution of rates will depend exclusively on economic data.
In addition, the head of the Fed reaffirmed his commitment to the independence of the agency, and ruled out to resign before he finished his mandate in May 2026.
An eventual exit from Powell could involve a change in the management of interest rateswhich would generate a significant impact on financial markets and the US economy, especially in sensitive investments and sectors such as real estate and consumption.
