Pulte calls for Congressional probe into Fed Chair Powell

Investing.com -- William J. Pulte, Director of U.S. Federal Housing and Chairman of Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC), called on Congress Wednesday to investigate Federal Reserve Chairman Jerome Powell.

In a statement, Pulte accused Powell of "political bias" and giving "deceptive Senate testimony" regarding what he termed a "$2.5B Building Renovation Scandal."

"This is nothing short of malfeasance and is worthy of ’for cause,’" Pulte said, suggesting grounds for Powell’s removal.

Pulte, who was appointed by President Donald Trump, cited Senator Cynthia Lummis’s criticism that 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."

According to Lummis, this reflects the "mismanagement and ’don’t bother me’ attitude that Chair Powell has always shown."

Pulte has previously joined Trump in calling for interest rate cuts.

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