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.

The head of the Federal Housing Finance Agency claimed the Fed chair lied in his characterization of upgrades at the central bank's headquarters.

Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.