President Donald Trump escalated his long-running criticism of Federal Reserve Chair Jerome Powell, writing on Truth Social late Tuesday that the central bank chief is “hurting the housing industry very badly.” Trump argued that inflation has largely abated and “every sign is pointing to a major rate cut,” contending that high borrowing costs are preventing Americans from obtaining mortgages. The remarks come two days before Powell is scheduled to deliver a closely watched address at the Jackson Hole economic symposium and less than a month ahead of the Fed’s Sept. 16-17 policy meeting. Trump, who has repeatedly labeled Powell “Too Late,” is pressing for several percentage points of easing, far more than the quarter-point reduction investors currently anticipate. The Fed has held its benchmark rate at 4.25%–4.50% this year after trimming it by a full point in late 2024. While headline consumer inflation slowed to 2.7% in July, core prices were still 3.1% above year-earlier levels, above the central bank’s 2% target. Thirty-year fixed mortgage rates hover near 6.7%, amplifying pressure on homebuyers and adding political heat to the Fed’s stance.