When Grant Cardone lights up social media, he doesn't bury the lead.
"Jerome Powell has set the middle class back a decade. Tell me I'm wrong…," he wrote in a fiery X post last week, sharing a clip from his July 1 appearance on Fox News. The caption was blunt, the tone unmistakable — and the message? The Federal Reserve chair, in Cardone's words, is the reason American families are stuck, broke, and locked out of the booming economy.
In the Fox News interview, Cardone — a real estate investor and entrepreneur — said Powell "actually want[ed] to damage, as he promised a year ago, the middle class," referencing the Fed chair's past comments about raising rates to fight inflation, even if it caused economic pain.
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"He is either stupid — which I don't think is the case — or he's unpatriotic," Cardone said. "Everywhere Jerome Powell is involved, prices are still up. Mortgages are too expensive."
Cardone argued that the Fed has never truly controlled inflation and that Trump-era policies had more to do with the recent price improvements than anything Powell has done. "President [Donald] Trump has had more to do with bringing inflation down in this country," he said. "The tariffs, taxes, regulation — inflation has come down, including oil production."
Cardone called the housing market the one piece of the economy that hasn't budged. "The only part of our economy that is frozen is housing," he said. "That's on Jerome Powell. He literally set the middle class back a decade."
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A few days later, Cardone echoed and expanded those comments on Facebook, saying Powell has "done more harm to American housing than anyone in history," and that "the housing market has FROZEN 12 trillion dollars of Americans' net worth."
"Trapped people in their homes," he added, "who can't access their equity to invest because of Powell's damage."
Cardone claimed Trump's policies — including tariff negotiations, tax reform, and oil production — helped bring inflation down, while Powell and the Fed stalled progress. "Lower prices show up everywhere except in housing," he wrote, "where Jerome Powell and friends stand in the way of a Donald Trump economy."
Then came the sharper speculation: "Powell is either stupid or he is unpatriotic, being controlled like a puppet by those who want to circumvent a Donald Trump America."
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According to Cardone, there's a clear fix: Powell steps down. "The moment Jerome Powell is gone," he said, "this economy will go into a Golden Era."
Realtor.com released its June report this week, and while the housing market isn't dead — it's definitely stuck in second gear. Active listings jumped nearly 29% year-over-year, passing the one million mark for a second straight month. Still, total inventory remains nearly 13% below pre-pandemic levels.
Pending sales dipped 1.6%, homes are sitting on the market longer — 53 days on average — and more than 1 in 5 sellers cut their asking price, the highest June rate since at least 2016. Prices haven't skyrocketed, but they're not coming down much either. Between high rates, slow sales, and hesitant buyers, the slowdown isn't just visible — it's measurable.
Love him or hate him, Cardone's not shy about where he thinks blame — and recovery — begins.
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