Trump Blames Fed for Housing Downturn

President Trump and his administration blame the Federal Reserve, led by Jerome Powell, for the current housing downturn. They argue that low interest rates after the financial crisis inflated home prices and made them unaffordable. Despite recent rate cuts, mortgage rates remain high due to lenders reluctance to lower rates, exacerbated by a tight housing supply and pandemic-era buying. Experts warn that the Feds influence over the property market wont return to normal soon, as mortgage rates still hover around six point two percent.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.