Housing market chief Pulte sends blunt message on Fed interest rate cuts

In the midst of one of the slowest spring real-estate markets in decades, the director of the Federal Housing Finance Agency strongly urged Federal Reserve Chair Jerome Powell to resume cutting the central bank’s interest rates.

Trump-appointee FHFA Director William J. Pulte made his blunt request on X just a few days before the minutes of the May Federal Open Meeting Committee, chaired by Powell, showed multiple reasons why the central bank chose not to reduce rates.

Pulte and other Trump administration officials have been demanding that the independent Federal Reserve Bank’s leaders cut interest rates as early as its June or July meetings to allow, among other outcomes, mortgage rates to drop for consumers.

https://www.thestreet.com/fed/housing-market-chief-pulte-sends-blunt-message-on-fed-interest-rate-cuts