In the lawsuit, which was filed Monday in the United States District Court for the District of ColumbiaCfA alleges that FHFA failed to respond to its request for expedited processing within the statutory deadline of FOIA. The group claims that the agency’s lack of response is entitled to judicial relief and asks the court to order FHFA to immediately produce all responsive documents.
According to the complaint, Pulte prepared a report on Powell’s role in the $2.5 billion renovation of the Fed’s headquarters in Washington, D.C., and sent it to Jeanine Pirro, the U.S. Attorney for the District of Columbia. CfA claims that FHFA has no clear jurisdiction or role in matters involving the Fed.
On January 9, the The United States Attorney’s Office for the District of Columbia served the Fed with subpoenas related to Powell’s management – and testimony to it Congress about — the renovation project.
“Bill Pulte and the FHFA have no jurisdiction over the Fed or its chairman, so the public has a right to know how Pulte abused his position to push the president’s vendetta,” CfA Director Michelle Kuppersmith said in a statement. “Since FHFA did not provide the memo or explain why it did not do so, CfA is asking the court to compel the agency to produce it.”
Powell said in one video posted on the fed’s website in early january that the Ministry of Justice had threatened criminal charges in connection with his testimony in Congress last summer. He characterized the investigation as politically motivated.
“This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress’s oversight role; the Fed has done everything it can through testimony and other public disclosures to keep Congress informed about the renovation project. Those are pretexts,” Powell said.
“The threat of criminal prosecution is a result of the Federal Reserve setting interest rates based on our best estimate of what will benefit the public, rather than following the president’s preferences.”
The subpoenas are the latest move in the Trump administration’s campaign to get Powell to cut rates, resign or be fired.
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