The Housing Market Hurts Americans, and Trump Blames Powell
PJ Media1 day
Powell Signals Possible September Rate Cut at Jackson Hole
Above:Â U.S. Federal Reserve Chair Jerome Powell at an economic policy meeting in Moran, Wyo., on Aug. 22, 2025. Â Image copyright:Â David Paul Morris/Bloomberg/Getty Images
The Spin
Anti-Trump narrative
While Jerome Powell has shown integrity in resisting Trump's loud attacks on the Fed, his rate policy must remain sober and fact-based. Today's rates are not historically high, and many critics misunderstand that. Painful economic conditions actually stem partly from Trump's own policies — tariffs, mass deportations and labor disruptions — not simply from the Fed.
Pro-Trump narrative
America faces a perfect storm: $37 trillion in debt, soaring deficits, and a housing crisis shutting out most families. Powell's stubborn high rates have strangled growth, risked deflation, and sabotaged the private-sector transition the country desperately needs. Trump's push for cuts isn't reckless — it's essential to avoid a depression and secure America's economic future.
Establishment-critical narrative
The current Fed debate over Powell proves the myth of Fed "independence." The Fed has always served big banks and Washington — propping up elites, bailing out failures, and rubber-stamping mergers — while squeezing ordinary Americans. Powell's fight isn't about integrity; it's about keeping Wall Street's interests above Main Street's.