Federal Housing Finance Agency Director Bill Pulte on Wednesday called on Congress to investigate Federal Reserve Chairman Jerome Powell over his Senate testimony on the $2.5 billion renovation of the Fed building.

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

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.