Trump Criticizes Fed Chair Powell as Mortgage Rates Remain Elevated
Trump slams Fed Chair Jerome Powell as ‘Disaster’ as Mortgage rates Stay above 6.5% and 10-year yield nears 4.5%
The Economic TimesImage: The Economic Times
Former US President Donald Trump has labeled Federal Reserve Chair Jerome Powell a 'disaster for America' due to persistently high interest rates. As of early May 2026, the average 30-year mortgage rate exceeds 6.5%, influenced by inflation and global tensions, particularly in the Middle East.
- 01Trump criticized Powell for high interest rates impacting the economy.
- 02The average 30-year mortgage rate is above 6.5%, making home loans costly.
- 03Inflation and Middle East tensions are key factors driving mortgage rate volatility.
- 04The Federal Reserve has paused rate changes, but market conditions still affect rates.
- 05The upcoming Consumer Price Index report on May 12 is crucial for future rate expectations.
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Former US President Donald Trump has publicly criticized Federal Reserve Chair Jerome Powell, calling him a 'disaster for America' due to the persistently high interest rates that are affecting the economy. As of early May 2026, the average rate for a new 30-year mortgage is above 6.5%, making home loans increasingly expensive for prospective buyers. The 10-year US Treasury yield is nearing 4.5%, indicating high borrowing costs. Mortgage rates have experienced significant fluctuations recently, influenced by various factors including inflation, geopolitical tensions, and economic signals. The Consumer Price Index (CPI) report set to be released on May 12 is particularly important, as a decrease in inflation could lead to lower mortgage rates. Investors and homebuyers are advised to monitor these developments closely, as even minor positive news could lead to rate reductions.
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High mortgage rates are making home loans less affordable for buyers, potentially slowing down the housing market.
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