🇺🇸 Federal Housing Director Pulte says he is "optimistic Jerome Powell will do the right thing…as early as next week."

The housing market is in a slowdown, with Pulte calling for immediate rate cuts to boost affordability.

Federal Housing Finance Agency (FHFA) Director Bill Pulte has been urging Federal Reserve Chairman Jerome Powell to cut interest rates, citing the need to boost the housing market. Pulte believes rate cuts would help homebuilders and increase housing affordability. In his recent statements, Pulte expressed optimism that Powell might do the right thing and lower rates as early as next week, ahead of the FOMC meeting.

Key Points:

Interest Rate Cut: Pulte thinks a rate cut would be beneficial for the housing market, making homes more affordable and stimulating construction.

FHFA's Role: As the director of FHFA, Pulte oversees Fannie Mae and Freddie Mac, which play a crucial role in the US mortgage market.

Trump's Stance: Pulte's views align with those of former President Donald Trump, who has also been critical of Powell's rate policies and called for rate cuts to spur economic growth.

Potential Impact: Lower interest rates could lead to increased housing demand, higher home prices, and more construction activity.

The Federal Reserve is expected to decide on potential interest rate cuts at its upcoming FOMC meeting. While some analysts predict a rate cut, others are more cautious, citing uncertainty around inflation and economic growth.#CryptoScamSurge $BTC