Further than Trump's insults! The head of the U.S. FHFA accuses Powell of fraud and calls for a congressional investigation

Bill Pulte, the Director of the Federal Housing Finance Agency (FHFA), has called on Congress to investigate Federal Reserve Chairman Jerome Powell, accusing him of providing "deceptive" testimony regarding the Fed's headquarters renovation plan in the Senate.

Pulte claimed that Powell made false statements but did not provide evidence, stating on the social media platform X on Wednesday:

I request Congress to investigate Chairman Powell's political bias and his false testimony in the Senate, which constitutes grounds for removal.

Pulte has recently intensified his criticism of Powell and urged him to resign in another post on X. As the head of the primary housing regulatory agency, Pulte also urged Powell to cut interest rates, stating that high borrowing costs are harming the public.

Media reports indicate that the cost of the Fed's headquarters renovation project has skyrocketed and includes several luxury amenities. During last week's Senate hearing, Powell disputed some of the reported content, claiming it was misleading and inaccurate in many respects:

The sensational content reported by the media is either not part of the current plan or is false.

He stated that the renovation plan is still being adjusted and expressed willingness to discuss project costs with lawmakers.

French Hill, Chairman of the House Financial Services Committee, and a Federal Reserve spokesperson both declined to comment on the matter.

Additionally, it was reported that Jim Jordan, Chairman of the House Judiciary Committee, stated in a media interview that he would look into FHFA Director Bill Pulte's call for an investigation into Chairman Powell. "We will pay attention to all of this. All possibilities are on the table, and the committee has not specifically discussed this matter yet."

Former President Trump has also criticized Powell for maintaining high interest rates. Last month, Trump stated that if re-elected, he would appoint a successor who advocates for rate cuts.

The Supreme Court recently ruled to block Trump's attempts to dismiss officials of independent federal agencies, which may alleviate concerns about Trump potentially firing Powell. Earlier this year, Trump sent mixed signals, posting on April 17, "The sooner we terminate Powell, the better!" but on April 22 stated, "I have no intention of firing him."