President Donald Trump stepped up public pressure on Federal Reserve Chair Jerome Powell, claiming the central bank’s tight monetary stance is “destroying the housing market.” Trump said elevated mortgage rates make it impossible for many Americans to secure loans and insisted “there is no inflation,” arguing that “every sign is pointing to a major rate cut.” He dubbed Powell “Too Late” and called the Fed chief “a disaster.” Treasury Secretary Scott Bessent echoed the criticism, warning that constraining homebuilding today could stoke inflation one to two years from now if the Federal Reserve does not ease policy soon. The unusually blunt remarks come three days before Powell is due to speak at the Jackson Hole Economic Policy Symposium, where investors will look for clues on the Fed’s next move. The federal funds rate currently sits at a two-decade high after the central bank’s rapid tightening campaign aimed at cooling price pressures.