House Judiciary Committee Chairman Jim Jordan (R-OH) announced on Wednesday that he will launch an investigation into Federal Reserve Chairman Jerome Powell for suspected political bias and misleading testimony before Congress.
The call for accountability is gaining momentum. Federal Housing Finance Agency (FHFA) Chairman Bill Pulte has explicitly urged Congress to scrutinize Powell’s actions, asserting that his $2.5 billion renovation scandal reeks of corruption. Pulte stated that Powell’s responses during congressional inquiries about the spending were dishonest and worthy of immediate investigation.
Senator Cynthia Lummis weighed in, exposing Powell’s numerous false statements about the Fed’s extravagant claims. His dismissive attitude reflects a pattern of mismanagement. This isn’t merely a bureaucratic oversight; it’s an alarming demonstration of incompetence and a lack of integrity at the highest levels of our financial system.
Pulte’s message is clear: Powell must face the music. He has echoed President Donald Trump’s call for Powell’s resignation, highlighting the urgent need for new leadership at the Federal Reserve.
The extravagant $2.5 billion facelift of the Fed’s Washington, D.C., headquarters has raised eyebrows nationwide and became a topic of heated discussion during a recent Senate Banking Committee hearing. Powell’s defense—that these revelations were “misleading and inaccurate”—falls flat in light of the allegations swirling around his office.
“There’s no VIP dining room, no new marble, no special elevators,” Powell insisted. But the American people deserve the truth, and they won’t settle for half-hearted reassurances.
Jordan, in a recent interview, affirmed that “everything is on the table” regarding this investigation. It’s time for Congress to step up and hold Powell accountable. The integrity of our financial institutions depends on it.
