🇺🇸 FHFA CALLS FOR INVESTIGATION INTO FED CHAIR POWELL
🔸 Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), is urging Congress to investigate Fed Chair Jerome Powell over alleged political bias and false testimony.
🔸 Pulte accuses Powell of lying to Congress about the controversial $2.5 billion renovation of the Fed headquarters.
🔸 Senator Cynthia Lummis stated that Powell made misleading claims regarding luxury dining rooms, elevators, and rooftop spaces included in the project.
🔸 Pulte argues this reflects poor leadership and arrogance within the Federal Reserve.
🔸 He believes Powell’s actions may meet the legal threshold for removal “for cause.”
🔸 Pulte is calling on Congress to act immediately.
🔸 Separately, Pulte has also directed Fannie Mae and Freddie Mac to begin evaluating crypto as a legitimate asset class when assessing mortgage risk. 🏠
📌 Note: Under U.S. law, the Fed Chair serves a 4-year term and can only be removed by the President “for cause,” meaning due to serious misconduct or dereliction of duty—not at will. Congress can investigate and recommend removal, which the President may then execute.
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