Council of Economic Advisors Chairman Stephen Miran discusses the decisions of the Federal Reserve about interest rates, reducing inflation and more on ‘mornings with Maria’.
President Donald Trump launched twin attacks on social media against Federal Reserve President Jerome Powell and the Governor of the Federal Reserve Lisa Cook this week.
On Tuesday, Trump said that Powell “hurts” the housing industry as he repeated his call to the Federal Reserve to lower the interest rates. Trump’s last attack occurs on Powell’s Friday speech on the annual Jackson Hole Central Banking Symposium.
“Can anyone please inform ‘too late’ Powell that he hurts the housing industry, very bad? People can’t get a mortgage because of him,” Trump wrote on his social social platform. “There is no inflation, and each sign points to a great speed reduction.” Too late “is a disaster!”
On Wednesday, Trump Cook hit a separate message and wrote: “Cook must now resign !!!” Trump called a report that said that the head of the American federal housing financing agency encouraged to encourage the Ministry of Justice to investigate Cook for alleged mortgage fraud.
Trump explodes again ‘too late’ Powell, threatens a lawsuit over FED’s $ 3B Headquarters Renovations
President Donald Trump and chairman of the Federal Reserve Jerome Powell speak during a tour of the Federal Reserve Board building, which is currently undergoing renovations in Washington, DC, on July 24, 2025. (Reuters / Kent Nishimura / Reuters -photos)
Inflation increased in July and went further away from the target interest of the Federal Reserve, because policy makers of the Central Bank assess the health of the economy in the midst of the calls of the president to cut interest rates.
Federal Reserve -President Jerome Powell will give a speech on Friday at the annual Jackson Hole Central Banking Symposium. (Win McName / File / Getty images)
The Bureau of Labor Statistics said last week that the Consumer Price Index (CPI) – a broad measure of how many everyday goods such as gasoline, groceries and rental costs in July increased by 0.2% compared to last month, while 2.7% rose by a year ago.
The monthly figure was in line with the estimate of economists who were interviewed by LSEG, while the head was slightly cooler than the 2.8% expected.
President Donald Trump hit chairman Jerome Powell and Governor Lisa Cook this week in his last attacks on the Federal Reserve. (Al Drago / Bloomberg via Getty Images / Getty images)
Wholesaler Inflation increased much more than expected in July, so that concern was expressed about a revival of inflationary pressure in the economy.
Fed Governor maintains the prospects for three interest rates in 2025
The Bureau of Labor Statistics released the producer Price Index (PPI) on Thursday for the month of July, which showed an increase of 0.9% compared to the previous month and 3.3% compared to a year ago. Those PPI figures were much hotter than the prognosis of the prices that rise by 0.2% on a monthly basis and 2.5% compared to last year, which was estimated by economists who were interviewed by LSEEG.
In the meantime, the Benchmark 30-year-old fixed mortgage fell to 6.58% last week, compared to the lecture of the 6.63% of the lowest level since October, said Mortriekoper Freddie Mac Thursday. The average rate for a 30 -year loan was 6.49% a year ago.
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Although the Friday speech by Powell investors is looking for hints about his economic prospects and the risk of tariff reductions, the next policy meeting of the FED of 16-17 September will be held.
Fox Business’ Eric Revell, Matthew Kazin and Daniella Genovese have contributed to this report together with Reuters.
