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Federal Housing Finance Agency Director Bill Pulte was the ‘driving force’ behind the program Ministry of Justicedecision launch criminal investigation Enter FedAccording to reports.
The U.S. Department of Justice issued a grand jury subpoena to the Federal Reserve on Friday to investigate the testimony of the Fed Chairman. Jerome Powell, Reported to the Senate Banking Committee last June Cost of renovation of bank’s historic headquarters in washington d.c.
Powell responded sting video statement On Sunday, he said: “The threat of criminal charges is Fed Set rates based on our best assessment of serving the public, not following the president’s preferences. “
U.S. Attorney for Washington, D.C. Jeanne Pirro The investigation was reportedly signed off in November, but Bloomberg reports Pulte was the man behind the move.
However, the administrator denied involvement, saying in an interview with Bloomberg TV, “The Justice Department is not part of my purview. This is beyond my purview. I don’t know anything about it and I will turn you over to the Justice Department.”
As far as Pirro is concerned, write on X (Twitter) Monday: “The U.S. Attorney’s Office contacted the Fed multiple times to discuss cost overruns and the Fed Chairman’s testimony before Congress, but was ignored and required legal proceedings — not a threat.
“This office makes decisions on the merits, no more and no less. We agree with the Fed Chairman that no one is above the law, which is why we expect his full cooperation.”
Pulte was recently described as “Agents of Chaos” go through financial timesThe committee has proven to be “a vocal force within the administration, pushing controversial housing policy ideas and investigating mortgage fraud by Trump’s enemies,” according to Bloomberg.
FHFA chief filed a criminal referral case involving the economist with the DOJ last August Lisa CookFederal Reserve Board of Governors members charged with mortgage fraud. president Donald Trump She was then fired, but Cook denied the accusation and challenged her dismissal.
The case is currently before the Supreme Court, with oral arguments scheduled for this week.
Bloomberg reported that several of Trump’s allies were “shocked” by the sharp escalation in his actions on Friday. Long feud with Powell over interest ratesworried that this could disrupt the bond market.
finance minister Scott Bessant It is understood that there are express disapproval The president, while several Republican senators, including the majority leader John Thune, Lisa Murkowski, Susan Collinsand Tom Tillisbesides express objection.
Trump himself appointed Powell in November 2017 during his first term, but has since accused his predecessor of Joe Biden, Frustrated by his stubborn insistence on the agency’s independence, the chairman was reappointed.
president Denies any prior knowledge The Justice Department detailed the Fed’s investigation in an interview with NBC News on Sunday, although Pulte traveled to Florida with him two days ago when the subpoena was served, according to Bloomberg.
Pulte is reportedly a member of the President’s Palm Beach Mar-a-Lago club and frequents the nearby Trump golf course.
Powell’s term as Fed chairman ends in May, but he will continue to serve as Fed governor until January 2028.
The president said he has decided who will succeed him but has not yet publicly named his candidate.
Director of the White House National Economic Council Kevin Hassett and former Federal Reserve Governor Kevin Warsh are considered top contenders.