Tensions are escalating between the White House and the Federal Reserve, with consumers caught in the middle.
Amid a fresh set of attacks on Fed Chair Jerome Powell came reports that President Donald Trump might fire the central banker.
Increasingly, Trump is frustrated with Powell for not lowering interest rates already.
Consumers hoping for lower rates as well may be better off if the Fed sticks to its current plan, experts say.
Ahead of the next Federal Reserve meeting later this month, tensions between the White House and the central bank have reached a fever pitch.
On Wednesday, a senior White House official told CNBC and other news outlets that President Donald Trump was likely to soon fire Fed Chair Jerome Powell.
Trump later denied those reports, although he said he wouldn’t “rule out anything.”
Trump has repeatedly said the central bank should have slashed its key benchmark by now. On Friday, Trump once again called Powell “too late” for not lowering interest rates already.
“‘Too Late’, and the Fed, are choking out the housing market with their high rate, making it difficult for people, especially the young, to buy a house”, Trump wrote in a Truth Social post.
