US Housing Chief Accuses Fed Chair Powell of $2.5B Misuse Amid Economic Uncertainty

Federal Housing Finance Agency Director William J. Pulte has escalated tensions in Washington, demanding congressional scrutiny of Federal Reserve Chair Jerome Powell. The allegations center on a disputed $2.5 billion renovation of the Federal Reserve's headquarters, which Pulte claims includes unjustified luxury features during a period of economic strain.

Pulte's social media campaign highlights alleged misrepresentations to Congress about the project's scope, citing private dining facilities, premium elevators, and ornamental water features as examples of fiscal irresponsibility. The timing proves particularly sensitive as American households grapple with elevated borrowing costs and housing affordability challenges.

The housing official's call for potential removal proceedings against Powell introduces fresh volatility into monetary policy discussions. Market analysts note such political friction could influence investor confidence during a delicate economic transition period.