Federal Housing Finance Agency Director Bill Pulte on Wednesday called on Congress to investigate Federal Reserve Chairman Jerome Powell over his Senate testimony on the $2.5 billion renovation of the Fed building.
Pulte, who is also the chairman of Fannie Mae and Freddie Mac, made the announcement on X a week after Powell’s Senate testimony about the renovation, which prompted Sen. Tim Scott (R-SC) to say the building looks like the “Palace of Versailles.”
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“Jerome Powell’s $2.5B Building Renovation Scandal stinks to high heaven, and he lied when asked about the specifics before Congress,” Pulte said. “This is nothing short of malfeasance.”
The renovation of the Fed building in Washington included several luxury amenities, according to a report from the New York Post in April. Powell, however, said in his testimony that there were no such improvements.
“There’s no VIP dining room, there’s no new marble,” Powell said. “There are no special elevators. There are no new water features, there’s no beehives, and there’s no roof terrace gardens.”
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However, the 2021 plans by the National Capital Planning Commission presented by the outlet, which were not changed after being made, show a private elevator for governors and “urban wildlife pollinators.”
“The private dining rooms on Level 4 (of the Fed’s Eccles building) will be restored,” an excerpt from the plans reads. “The Governors’ private elevator will be extended to discharge at the dining suite level.”