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High Loans, Mortgages, and Credit Card Bills: Trump Demands Fed Cut Rates
Posted
August 20, 2025
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1,833
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August 20, 2025
1,833
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4:43Now PlayingThe Federal Reserve has released the minutes from its latest meeting, revealing a debate over whether to cut interest rates. While a few dissenting members pushed for a quarter-point reduction, most officials held rates steady — leaving Americans facing high mortgages, car loans, and credit card bills.
At the same time, President Trump is publicly calling for Fed Governor Lisa Cook to resign following mortgage-fraud allegations. Cook, a Biden appointee, has generally supported rate cuts, but if she steps down, Trump could appoint a trusted ally to the central bank.
Jeffrey Small, Managing Partner of Retirement Income Source, joins Alicia Summers to weigh in on the Fed minutes, the president's critique of Jerome Powell, and what to expect in terms of a rate cut in September.
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