‘Fed Wants To See Country Do Badly’: Trump Slams Fed As Mortgage Rates Hit Highest In 2nd Term
US President Donald Trump has sharply criticized the Federal Reserve as US mortgage rates climbed to 7.49%, the highest level of his second term. Trump argued that interest rates should be much lower and accused some Fed policymakers of wanting to see the country “do badly.” Treasury Secretary Scott Bessent defended the administration’s economic outlook, saying strong US growth and an energy-driven inflation shock were keeping rates elevated. Bessent said inflation could move closer to the Fed’s target once energy markets stabilize, potentially bringing down mortgage rates and Treasury yields.
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