William Pulte, FHFA director and chairman of Fannie Mae and Freddie Mac, released a statement Tuesday accusing Powell of providing deceptive testimony to Congress and suggesting there may be grounds for his removal.

US President Donald Trump has demanded that Federal Reserve Chairman Jerome Powell “resign immediately”. Mr Trump appointed Mr Powell, who leads America’s equivalent of our Reserve Bank, during his first term, but has since soured on him. He’s repeatedly expressed frustration at the Federal Reserve for not cutting interest rates.