US Housing Finance Chief Calls for Powell Investigation, Trump Wants Him to Resign

The head of the Federal Housing Finance Agency called Wednesday for Congress to investigate Federal Reserve Chair Jerome Powell, accusing him of providing “deceptive” testimony about the central bank’s headquarters renovation costs, a demand that President Donald Trump quickly amplified on social media.

FHFA Director Bill Pulte, who oversees mortgage giants Fannie Mae and Freddie Mac, alleged that Powell misled lawmakers during recent Senate Banking Committee testimony about the Fed’s $2.5 billion renovation project.

“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 social media post, alleging that Powell made inaccurate statements without providing evidence.

Trump also posted on Truth Social that “‘Too Late’ should resign immediately!!!” using his nickname for Powell.

During Senate questioning about the renovation project, Powell defended the expenses by explaining that expensive elements like elevator repairs and marble work represented routine building maintenance that had been mischaracterized in media reports.

Powell disputed reports about the renovation project’s costs during the Senate hearing, calling them “misleading and inaccurate in many, many respects.” He said renovation plans have continued to evolve and expressed openness to discussing costs with lawmakers.

Pulte has spent recent weeks criticizing Powell’s approach to interest rate policy, arguing that the Fed chief is harming the US economy and the housing market, where average 30-year fixed mortgage rates are close to 7 percent. As FHFA director, Pulte works with fellow regulators, including the Fed, to oversee mortgage market stability.

The Fed maintains its baseline interest rate at 4.25% to 4.5%, and Trump has maintained a months-long campaign against Powell. He criticized the Fed’s decision to keep interest rates steady rather than cutting borrowing costs more aggressively. The president previously said he would choose a Fed chair successor who wants to cut borrowing costs when Powell’s term expires next year.

According to Bloomberg, Rep. Jim Jordan of Ohio, who chairs the House Judiciary Committee, said his panel would consider investigating Powell.

A recent Supreme Court ruling has provided protections for Federal Reserve officials from presidential dismissal attempts, a decision that likely limits concerns about potential moves to remove Powell.

Powell’s term as Fed chair ends in 2026. Trump had appointed Powell to the position in 2017 but later criticized his performance and considered replacing him.

Pulte holds significant financial interests in real estate development and disclosed more than $80 million in assets related to housing, property management, or air conditioning and heating companies in his 2025 financial disclosure form.

Read: Trump Renews Push to Privatize Fannie Mae, Freddie Mac



Information for this story was found via Bloomberg, The Hill, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

They Laughed at $3,000 Gold, Now We’re Headed for $4,000! | Sean Roosen – Osisko Development Corp.

Recommended

Steadright Begins Preliminary Economic Assessment On TitanBeach Project

Three Miners Trapped Underground At Newmont’s Red Chris Mine

Related News

Trump Unleashes 25% Tariff On EU: “They’re Formed To Screw The US”

In another episode on tariff threats, President Donald Trump has announced plans to impose sweeping...

Thursday, February 27, 2025, 09:32:00 AM

Are Markets Predicting The Fed To Cut Interest Rates Every Month?

Financial markets are reportedly pricing in a scenario where the Federal Reserve might implement rate...

Thursday, January 11, 2024, 07:32:00 PM

Is Trump Moving Forward with Marijuana Rescheduling?

President Donald Trump reportedly pledged to advance marijuana rescheduling “soon” during a private meeting with...

Monday, June 16, 2025, 10:19:00 AM

Sam Bankman-Fried Wanted To Pay Trump $5 Billion Not To Run For President Again

Sam Bankman-Fried, founder of FTX, accused of a historic financial fraud, allegedly considered paying Donald...

Monday, October 2, 2023, 03:50:45 PM

Jerome Powell Keeps Rates Unchanged at 5.5%

As was widely expected, the Federal Reserve decided to maintain the overnight rate at 5.5%....

Wednesday, September 20, 2023, 02:02:41 PM