When the Fed cut short rates in the fall, long-bond yields spiked.

Aside from interest rates, the president and Powell are also not on the same page about the Federal Reserve renovation costs and inflation.

For the past several months, the average 30-year fixed mortgage rate has sat between 6.5% and 7%. Prospective homebuyers shouldn't hold their breath for that to change anytime soon. On July 30, the Federal Reserve is expected to keep borrowing rates the same at its fifth monetary policy meeting this year.

A judge Monday rejected a legal attempt to force the US Federal Reserve to open its upcoming interest rate meeting to public scrutiny, financial news channel CNBC reported.

For months, President Donald Trump has been threatening to fire Powell, primarily because the president thinks that short term interest rates, which currently stand at 4.25 to 4.50 percent, are too high. Every time the president flirts with unseating Powell, he has pulled back, but could he actually do it?

Commerce Secretary Howard Lutnick discusses how President Donald Trump and Federal Reserve Chair Jerome Powell’s sparred over renovation costs for the ‘Fed Mahal’ on ‘The Ingraham Angle.’