Fhfa’s Bill Pulte Calls On Congress To Investigate Fed Chair Powell

In an official Federal Housing Finance Administration (FHFA) announcement on Wednesday morning, FHFA Director Bill Pulte called on Congress to “immediately” investigate Federal Reserve chair Jerome Powell.

The statement reads as follows:

“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.’ Jerome Powell’s $2.5B in capitalizations of Building Renovation Scandal stinks to high heaven, and he lied when asked about the specifics before Congress. This is nothing short of malfeasance and is worthy of ‘for cause.'”

“As Senator Cynthia Lummis said, ‘he [Chairman Powell] made a number of factually inaccurate statements to the Committee regarding the Fed’s plush private dining room and elevator, skylights, water features, and roof terrace,’ and that ‘this is typical of the mismanagament and ‘don’t bother me’ attotude that Chair Powell has always shown.'”

“Chairman Powell needs to be investigated by Congress immediately.”

Pulte’s statement comes after he called for Powell to resign on June 19, following the Fed’s decision the day before to keep the Fed Funds rate unchanged.

Pulte has previously urged Powell to lower interest rates, with one post on social media platform X, reading: “Jay Powell needs to lower interest rates – enough is enough. President Trump has crushed Biden’s inflation, and there is no reason not to lower rates. The housing market would be in much better shape if Chairman Powell does this.”