Trump blames ‘Too Late Powell’ for a housing crisis—but top analysts say low rates ‘snapped the trap shut’ on Millennial and Gen Z homeowners in the first place

fortune.com/2025/11/15/trump-blames-powell-house-crisis-fed-rates-trap-buyers-rates-low

ANALYSIS: President Trump is blaming Jerome Powell and the Fed for the housing downturn, but economists from JP Morgan and Morgan Stanley say today’s high mortgage rates aren’t the Fed’s doing—it’s the legacy of keeping rates ultra-low for years after the financial crisis, which inflated…

This story appeared on fortune.com, 2025-11-15 12:30:00.
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