Second Civil War Breaks Out in Trump's Dysfunctional Administration

[BumRushDaShow]

Source: Daily Beast

Updated Jun. 20 2025 7:44AM EDT
Published Jun. 19 2025 8:57PM EDT


The Trump-appointed director of the Federal Housing Finance Agency has ignited an intragovernmental civil war with a series of tweets calling for the resignation of the Federal Reserve chair. Businessman Bill Pulte launched his campaign against Jerome Powell on Wednesday with a tirade calling on Powell to lower interest rates, shortly before it was announced that the Federal Reserve would not be changing interest rates this month.

He wrote, “Because President Trump has crushed inflation, Fed Chairman Jerome Powell needs to lower interest rates today, and if not Chairman Powell needs to resign, immediately. Fannie Mae and Freddie Mac can help so many more Americans if Chair Powell will just do his job and lower rates.”

Over the course of the next day, Pulte posted an additional eight tweets calling on Powell to resign. In one, he used his position as chairman of government-backed mortgage financiers Fannie Mae and Freddie Mac to point the finger at Powell’s failure to lower interest rates that is hurting the housing market. In another, he claimed that Powell had no clue what he could do for the housing market and was “not listening to the people who help lead“ it. As a result, needed to resign.

In response to an article from The Hill about his crusade, Pulte explained his repeated calls for Powell to resign. “He is hurting Americans and hurting the mortgage market, which I am responsible for regulating.” The latest conflict comes as Republicans find themselves embroiled in another civil war over the Trump administration’s handling of the Israel-Iran conflict, with figures like Tucker Carlson and Steve Bannon urging Trump to avoid involving the U.S. in another war in the Middle East.

Read more: https://www.thedailybeast.com/second-civil-war-breaks-out-in-trumps-dysfunctional-administration/

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In other words, a manufactured distraction. So childish.

[Bernardo de La Paz]

1. tRump did not crush inflation. It was already way down before January. Biden & Powell crushed it. . . . . nt

[Bernardo de La Paz]

2. Pulte not regulating mortgage market. He's in charge of DE-regulating the market. . . . nt

[GregariousGroundhog]

3. Interest rates are set by a committee of 12

Trump puts too much emphasis on just Jerome Powell.

[bucolic_frolic]

5. Pulte is self-serving trying to get more pie for himself.

Pulte’s grandfather founded Pulte Group, America’s largest homebuilder. But his focus, as founder of the nonprofit Detroit Blight Authority, is on tearing down vacant homes and clearing away blight. He ditched a degree in journalism to run Pulte Capital Partners, a private equity firm that invests in building products companies. It has $30 million in revenues, and 200 employees.

https://www.forbes.com/profile/bill-pulte/

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Lower interest rates will juice the housing market, for those not computing this Friday.

[mwmisses4289]

6. Ah! I knew that his name sounded familiar!

Of course he wants interest rates lowered for now- thanks to idgits dodgy nitwits, the economy is starting to go into a tailspin, and many of the home builders and the secondary businesses they rely on to build their homes, are sitting on inventory that no one is buying. Of course he and idgit want lower interest rates.

[Bernardo de La Paz]

7. $30 M revenue divided by 200 is $150 K per employee, which is rather low these days

I looked up some data and it seems that Financial Services & Real Estate companies have revenues per employee about $350 to $600 K.

[bucolic_frolic]

8. Good sleuthing.

I think DU needs to start a citizens hedge fund.

[usaf-vet]

9. I hope Chairman Powell tells him to F off, he's just doing Trump's bidding. Since when are the repugs worried about....

..... everyday Americans being able to buy homes when their gifts to billionaires in tax cuts allow those same billionaires to buy large swaths of homes everywhere.

Preventing first-time home buyer from even being capable of affording their first home.

[kimbutgar]

10. Wall Street will NOT be pleased if Powell is fired !

They respect him enough to have guardrails against this corrupt stupid administration. There will be a big drop in the market if he’s gotten rid of !

[Martin68]

11. Trump didn't "crush inflation." AS Paul Krugman pointed out, Biden lost the election largely because of inflation (that

was actually lower than most other countries), and Trump inherited a Goldilocks economy. Which he is doing his best to destroy. The Fed is holding off on any interest rate adjustment until the effects of the tariffs kick in. Then they will make a decision based on unemployment and inflation at that point.

[hibbing]

13. Groceries still rising where I am n/t

[Bernardo de La Paz]

16. You may think you want grocery prices declining, but that would be deflation, worse than inflation

Deflation means recession or worse. Plus you don't say how fast they are arising. Rises of 2% per year, in line with inflation targets is desirable.

Many people feel prices are rising much faster than they actually are.

[krkaufman]

12. Stupid headline

Trump (or a lackey) going after Jerome Powell isn’t.a civil war.

[BumRushDaShow]

14. Powell is a Republican originally appointed to the board by 45 in 2017 to replace Yellen

and made Chair in 2018.

There are a group of business GOPers warning him about trying to replace Powell ahead of the normal end of his term next year. So he is doing this junior high school level nonsense, co-opting various other pre-adolescents to help.

[LudwigPastorius]

15. Pulte's an asshole.

Pulte marked his tenure by consolidating control over Fannie Mae and Freddie Mac.[19] Days after being sworn in, he moved to oust numerous members of the companies's boards and named himself chairman.[20] Christopher Stanley, a cybersecurity engineer at SpaceX and a Department of Government Efficiency employee, was appointed to the board of Fannie Mae.[21] Pulte placed thirty-five workers on administrative leave; according to the National Treasury Employees Union, they were not given advance notice.[22]

He later signed an order ending programs at the companies supporting first-time home buyers and assisting in down payments, leading to concerns that the companies could be privatized.[23] Pulte's job cuts targeted a department that oversaw fair housing rules for the Federal Home Loan Bank system.[24]

In April, Pulte referred Letitia James, the attorney general of New York, to attorney general Pam Bondi and deputy attorney general Todd Blanche for criminal prosecution, alleging that James "falsified bank documents and property records to acquire government backed assistance and loans and more favorable loan terms." The following month, The Washington Post reported that the Department of Justice was investigating James.[25]

https://en.wikipedia.org/wiki/Bill_Pulte