Fannie Mae, Freddie Mac regulator to Powell: cut or quit

Fannie Mae’s and Freddie Mac’s regulator called for Federal Reserve Chairman Jerome Powell to step down on Wednesday if he doesn’t cut short-term rates, as monetary policymakers left them unchanged again.

“Jay Powell is hurting the housing market by being too late to lower rates. He needs to resign, effective immediately,” Bill Pulte said in one post on X. He repeated the call in other posts, indicating he sees inflation has fallen far enough to warrant the move.

READ MORE: No Fed rate cut until September at earliest, economists say

Pulte’s social media posts contributed to escalating statements President Trump has made pressuring Powell to cut rates. The Fed chief’s decisions are traditionally made independently and Powell has indicated his decisions will be based solely on economic…