Bill Pulte, who leads the Federal Housing Finance Agency, called on Congress to investigate Federal Reserve Chair Jerome Powell, alleging that his recent testimony to the Senate about the central bank’s planned renovations to its headquarters was “deceptive.”
“I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony, which is enough to be removed ‘for cause,’” Pulte said Wednesday in a post on social media platform X, alleging that Powell made inaccurate statements without providing evidence.
Pulte has been ramping up his criticisms of Powell, urging him to resign in a separate X post. As head of a major housing regulatory agency, Pulte has also pushed Powell to lower rates, saying that people are being hurt by high borrowing costs.
President Donald Trump has also been assailing Powell for keeping rates high. The president said last month that he’d choose a successor for Powell who wants to cut borrowing costs.
A spokesperson for the Fed declined to comment.
The Supreme Court recently shielded the Fed from Trump’s push to oust top officials at independent federal agencies, in a decision likely to quell concerns that the president might move to fire Powell. Trump sent conflicting signals earlier this year, posting on April 17 that “Powell’s termination cannot come fast enough!” before saying April 22 that he has “no intention of firing him.”
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