Chairman of the Board of Fannie Mae and Freddie Mac, Bill Pulte, on Tuesday evening said two more criminal referrals related to Fed’s multibillion dollar renovations were issued.
Fed Chair Jerome Powell is under fire for the cost of renovating the Fed’s DC headquarters. The cost ballooned from $1.9 billion to $2.5 billion.
Bill Pulte was on site to review the ongoing renovations at the Fed’s headquarters in DC and he said he only saw six construction workers.
Pulte told Fox News host Laura Ingraham that the construction workers were tearing down marble and steel.
“I’ve been in construction my whole life… but I go to this $2.5 billion Fed building and they’re tearing down marble and steel? It doesn’t make sense. We’re going to get to the bottom of it,” Bill Pulte told Laura Ingraham.
WATCH:
“I’ve been in construction my whole life… but I go to this $2.5B Fed building and they’re tearing down marble and steel? It doesn’t make sense. We’re going to get to the bottom of it.”
—@Pulte on the bizarre rebuild of the Federal Reserve HQ. pic.twitter.com/kSM8NPOBl8— Laura Ingraham (@IngrahamAngle) July 23, 2025
Shortly after he appeared on Laura Ingraham’s show, Pulte said: “We issued two more criminal referrals today.”
Details about the criminal referrals were not immediately available.
We issued two more criminal referrals today.
— Pulte (@pulte) July 23, 2025
Jerome Powell has been criminally referred to the Justice Department for prosecution this week.
On Monday GOP Congresswoman Anna Paulina Luna sent a letter to the DOJ accusing Powell of perjury.
“On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims,” Luna’s letter said, according to Fox News.
Rep. Luna said Powell was lying about the cost of the renovations.
“Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance,” Luna wrote.
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