Director, Federal Housing Finance Agency
Appears in 3 stories
Director, Federal Housing Finance Agency - Subject of GAO investigation into mortgage fraud referrals
No president has fired a sitting Federal Reserve governor in the central bank's 112-year history. Donald Trump is trying to be the first—and to replace the Fed chair with a loyalist. His August 2025 attempt to remove Governor Lisa Cook over unproven mortgage fraud allegations escalated into a Supreme Court showdown that exposed the fragility of Fed independence. In a striking January 21, 2026 hearing, all nine justices—including three Trump appointees—expressed skepticism about Trump's removal claims, with Justice Brett Kavanaugh warning the administration's position "would weaken, if not shatter, the independence of the Federal Reserve." Fed Chair Jerome Powell attended the arguments and later called the case "perhaps the most important legal case in the Fed's 113-year history." Nine days later, Trump nominated Kevin Warsh, a 55-year-old former Fed governor and longtime Trump ally, to replace Powell when his term expires in May 2026.
Updated Feb 5
Director, Federal Housing Finance Agency; Chair of Fannie Mae and Freddie Mac Boards - Under GAO investigation; directing GSE bond buys and privatization push amid ongoing fraud referral controversy
In early 2025, President Donald Trump installed housing heir Bill Pulte as director of the Federal Housing Finance Agency (FHFA), the regulator overseeing Fannie Mae, Freddie Mac and more than $8.5 trillion in U.S. mortgage credit. Within months, Pulte began using access to mortgage data to publicly accuse several high-profile Democrats — New York Attorney General Letitia James, Senator Adam Schiff, Federal Reserve Governor Lisa Cook and Congressman Eric Swalwell — of mortgage fraud, referring them to the Justice Department amid concerns of political retribution.
Federal Housing Finance Agency Director - Key figure in pushing Trump to investigate Powell
No president has ever criminally investigated a sitting Federal Reserve chair. When Trump's Justice Department served Jerome Powell with grand jury subpoenas on January 11, two Republican senators announced they would block all Fed nominees until the probe ends. With a 13-11 GOP majority on the Banking Committee, even one defection creates a confirmation stalemate.
Updated Jan 28
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