William J. Pulte, Director of the U.S. Federal Housing Finance Agency (FHFA) and Chairman of Fannie Mae and Freddie Mac, has called on Congress to investigate Federal Reserve Chairman Jerome Powell. The call comes amid serious concerns about Powell’s role in a controversial $2.5 billion building renovation project.
Pulte accused Powell of giving misleading testimony before the Senate and showing political bias. He said Powell’s statements about the project were dishonest and amount to misconduct that could justify his removal.
“This $2.5 billion renovation scandal smells of corruption,” Pulte said. “Chairman Powell lied under oath when asked about the project’s details, and that alone is reason enough for Congress to take action.”
Senator Cynthia Lummis also raised concerns about Powell’s statements, saying he gave inaccurate information about luxury upgrades at the Federal Reserve building, including a private dining room, elevators, skylights, water features, and a rooftop terrace.
“This shows a pattern of mismanagement and a ‘don’t bother me’ attitude from Powell,” Lummis noted.
Pulte concluded by urging lawmakers: “Chairman Powell needs to be investigated by Congress immediately.”
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