Overview

• FHFA Director Bill Pulte formally asked Congress to investigate Fed Chair Jerome Powell for allegedly deceptive Senate testimony about a $2.5 billion Washington, D.C., headquarters renovation and argued it constituted cause for removal.
• President Trump amplified Pulte’s demand on Truth Social, deriding Powell as “Too Late” for holding interest rates steady and insisting he resign at once.
• Powell has rejected the renovation scandal claims, telling senators that proposed luxury features were outdated or inaccurate and refusing to step down.
• House Judiciary Committee leaders, including Chairman Jim Jordan, say they will consider launching a formal oversight probe into Powell’s conduct.
• A recent Supreme Court decision limits presidential removal of Fed leaders to cases of misconduct, reinforcing the central bank’s legal independence.