House Judiciary Committee Chairman Jim Jordan says he’s open to investigating Federal Reserve Chair Jerome Powell after Trump administration allies and senior officials accused Powell of “political bias” and “deceptive” testimony before Congress.

The push for a probe gained steam after Federal Housing Finance Agency Chairman Bill Pulte released a statement Wednesday calling on Congress to investigate Powell. Pulte alleged Powell’s handling of a \$2.5 billion renovation of the Fed’s Washington, D.C., headquarters was riddled with deception and misuse of funds, calling it “malfeasance worthy of ‘for cause’ removal.”

“I am asking Congress to investigate Chairman Jerome Powell, his political bias, and his deceptive Senate testimony,” Pulte stated. “Jerome Powell’s \$2.5 billion Building Renovation Scandal stinks to high heaven, and he lied when asked about the specifics before Congress.”

Pulte’s call mirrors demands by President Trump, who has repeatedly pressured Powell to resign, questioning his stewardship of the Fed amid contentious rate battles and accusations that Powell’s decisions undercut Trump’s economic policies. Pulte echoed this sentiment, calling Powell’s tenure at the Fed indicative of “mismanagement” and a “don’t bother me” attitude that “Chair Powell has always shown.”

The controversy centers on a June Senate Banking Committee hearing, where Powell defended the costly Fed building renovations, dismissing media reports about luxurious upgrades, including alleged marble installations, new VIP dining rooms, and rooftop gardens. “There’s no VIP dining room, there’s no new marble. There are no special elevators, no new water features, no beehives, and no roof terrace gardens,” Powell testified.

Senator Cynthia Lummis countered Powell’s testimony, accusing him of making “factually inaccurate statements” about the specifics of the renovation, raising concerns about a culture of secrecy and potential financial mismanagement at the Fed.

When asked by Bloomberg about Pulte’s call for a probe, Jordan responded, “Everything is on the table,” adding, “we will take a look at that,” signaling that the House Judiciary Committee could soon become a battleground over Powell’s leadership and the Fed’s transparency.

A congressional investigation into Powell could have far-reaching consequences, especially as Trump allies seek to pressure the Fed ahead of the 2026 midterms and in preparation for a potential Trump push to replace Powell with a central banker aligned with the administration’s America First economic agenda.