President Donald Trump renewed his attacks on Federal Reserve Chair Jerome Powell, writing on Truth Social late Tuesday that Powell is "hurting the housing industry very badly" and insisting that "every sign is pointing to a major rate cut." Trump, who has nicknamed the Fed chief "Too Late," said high borrowing costs are blocking prospective homebuyers from securing mortgages and called for a sharp reduction in U.S. interest rates. The comments arrive three days before Powell is scheduled to deliver the keynote address at the annual Jackson Hole Economic Policy Symposium on Friday. The Fed has held its benchmark rate steady at 4.25%–4.50% throughout 2025, resisting pressure from the White House for deeper easing after a pair of half-point cuts last year. Headline inflation has moderated: the Consumer Price Index rose 0.2% in July, leaving the year-on-year rate at 2.7%. Core price measures still exceed the Fed’s 2% goal, and policymakers have cited the risk that Trump’s 145% tariff on Chinese goods could reignite price pressures. Thirty-year fixed mortgage rates hover near 6.7%, a level the administration argues is stifling housing demand. Futures markets currently imply an 80% probability the Fed will trim rates by a quarter-percentage point at its 16–17 September meeting. Treasury Secretary Scott Bessent is urging at least a half-point move, while Trump continues to press for even larger cuts, maintaining that the labor market is cooling and housing affordability is deteriorating.