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Trump Backs Pulte in Fed Chair Showdown

6/21/2025

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Summary

Story summary

A fierce clash is brewing within President Trump's administration over interest rates, as Bill Pulte, the Federal Housing Finance Agency Director, calls for Federal Reserve Chair Jerome Powell's resignation for his reluctance to lower rates. Trump backs Pulte, voicing concerns about Powell's effect on the housing market. This turmoil reflects deeper Republican divisions over U.S. involvement in the Israel-Iran conflict.

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Story summary

A fierce clash is brewing within President Trump's administration over interest rates, as Bill Pulte, the Federal Housing Finance Agency Director, calls for Federal Reserve Chair Jerome Powell's resignation for his reluctance to lower rates. Trump backs Pulte, voicing concerns about Powell's effect on the housing market. This turmoil reflects deeper Republican divisions over U.S. involvement in the Israel-Iran conflict.