President Donald Trump could be setting up Fed Chair Jerome Powell as a 'scapegoat' if a recession hits, according to an MSU economist.

On Monday morning, Trump again lashed out at Powell on his Truth Social, calling the Fed chair "a major loser" and demanding he lower interest rates "NOW." The stock market, which had begun to calm from tariff-induced panic, quickly plunged, with the S&P 500 closing down 2.3%.

These are today's mortgage and refinance rates. Mortgage rates have come back down after spiking earlier this week, but they're still relatively high.