Bill Pulte Seen as Key Instigator Behind Powell Subpoena
Federal Housing Finance Agency Director Bill Pulte was a driving force behind the Trump administration’s decision to subpoena the Federal Reserve, according to people familiar with the matter, intensifying pressure on the central bank as President Donald Trump prepares to pick a new Fed chief.
Some of Trump’s allies were alarmed by the move, fearing a legal fight aimed at Fed Chair Jerome Powell will upset the bond market, some of the people said, requesting anonymity to discuss private talks within the administration. They are also concerned it will discourage Powell from leaving the Fed once his chairmanship ends in May. Powell can remain on as a Fed governor until 2028 and hasn’t yet said whether he intends to leave as is tradition.
The head of the typically staid FHFA has been a vocal force within the administration, pushing controversial housing policy ideas and investigating Trump’s foes for mortgage fraud. Pulte submitted a criminal referral to the DOJ about Fed Governor Lisa Cook that is at the root of Trump’s push to fire her. The Supreme Court is set to take up the Cook case later this month.
A senior administration official said the DOJ, not Pulte, is behind the subpoena that relates to Powell’s congressional testimony about Fed building renovations. The investigation is being run by the US Attorney’s Office for the District of Columbia, according to people familiar with the matter.
US Attorney for DC Jeanine Pirro signed off on the investigation into Powell, some of the people familiar with matter said.
https://finance.yahoo.com/news/bill-pulte-seen-key-instigator-041619786.html
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