US FHFA Chair Demands Congressional Probe Into Fed Chair Powell Amid Allegations of Malfeasance

Federal Housing Finance Agency Chairman William J. Pulte has escalated his campaign against Federal Reserve Chair Jerome Powell, urging Congress to launch an immediate investigation. The demand centers on allegations of political bias, deceptive testimony, and a controversial $2.5 billion building renovation project at the Federal Reserve.

Pulte's formal statement accuses Powell of providing factually inaccurate statements to Congress regarding lavish amenities including private dining rooms, elevator upgrades, and rooftop terraces. "This is nothing short of malfeasance," Pulte declared, echoing Senator Cynthia Lummis' criticism of Powell's management style.

The controversy adds to existing scrutiny facing Powell, who has weathered multiple political storms during his tenure. Market observers note such institutional turbulence often creates volatility in traditional markets, potentially driving capital toward decentralized alternatives.