Chamath Palihapitiya Endorses Bill Pulte for Fed Chair, Calls Him 'Exceptional Pick'

Chamath Palihapitiya has endorsed William "Bill" Pulte as the next chair of the Federal Reserve, praising his expertise in housing and alignment with the Trump administration. Palihapitiya believes Pulte would be an "exceptional pick" to replace Fed Chair Jerome Powell, citing his background in bond markets and housing finance. The endorsement adds weight to speculation that Trump may oust Powell and install a loyalist like Pulte, potentially eroding the central bank's independence.

Chamath Palihapitiya, a prominent venture capitalist and technology entrepreneur, has publicly endorsed William "Bill" Pulte as the next chair of the Federal Reserve. Palihapitiya praised Pulte's expertise in housing and finance, as well as his alignment with the Trump administration, suggesting that Pulte would be an "exceptional pick" to replace Fed Chair Jerome Powell [1].

Pulte's background includes extensive experience in bond markets and housing finance, which Palihapitiya believes makes him well-suited to lead the Federal Reserve. The endorsement adds weight to speculation that President Donald Trump may oust Powell and appoint a loyalist like Pulte, potentially impacting the central bank's independence [2].

Powell has faced criticism from Trump for not lowering interest rates and for the Federal Reserve's handling of the renovation project at its headquarters. The renovation project has seen costs balloon 30% from an original estimate of $1.9 billion, with some alleging that the Fed may have misled Congress about the project's scope [1].

Pulte's appointment would mark a significant shift in the leadership of the Federal Reserve. Powell, who was first nominated by Trump, has served as chair since 2018 and is scheduled to complete his term in May 2026. However, his term as a member of the Board of Governors extends until January 2028. The Federal Reserve's independence is a key aspect of its role in the U.S. economy, and any perceived erosion of that independence could have significant implications for monetary policy and the broader financial system [2].

As of the current date, July 2, 2025, the Federal Reserve continues to face pressure from the Trump administration to adjust its monetary policy. The central bank has been cautious in its approach, cutting rates slightly last year as inflation fell but keeping them steady so far this year. However, the Fed has indicated that it may cut rates later this year if inflation remains above its 2%-per-year target [2].

The potential appointment of Pulte would be a significant development in the ongoing debate over the Federal Reserve's independence and the role of monetary policy in the U.S. economy. The appointment would also have implications for the Federal Reserve's ability to maintain its traditional independence and make decisions in the best interests of the economy, rather than political considerations.

References:
[1] https://www.newsmax.com/politics/scott-bessent-donald-trump-jerome-powell/2025/07/21/id/1219464/
[2] https://www.cbsnews.com/news/what-does-the-federal-reserve-do-and-why-is-trump-mad-at-its-chair-jerome-powell/