A weak housing market could deliver rate cuts and rescue the Fed from Trump

• President Donald Trump’s tariffs are expected to heat up prices later this year, but the housing market is looking weak enough that it may cool overall inflation. That would clear the way for the Federal Reserve to lower interest rates, which Trump has been pressuring Chairman Jerome Powell to do for months.

The Federal Reserve is keeping a close eye on President Donald Trump’s tariffs and how they will affect inflation, but the housing market may clear the way for lower...