In Joseph Heller’s Catch-22, published as America was headed into the turbulence of the 1960s, Milo Minderbinder is seen as a comic nuisance, until everyone realizes that his unremarkable position in the bureaucracy has given him incredible power.
In today’s Washington, the real-world parallel might be Bill Pulte. Pulte runs a government agency that most people don’t know exists and is widely disliked in both Washington and Wall Street. Nevertheless, he has made himself into a force.
The morning after Federal Reserve chairman Jerome Powell issued a video statement criticizing subpoenas issued to the central bank—which indicated that federal prosecutors have opened a criminal investigation of Powell—Bloomberg reported that had instigated the investigation. He had flown to Palm Beach, Florida, on Air Force One with Donald Trump, and mocked up a “wanted” poster with Powell on it, according to The Washington Post.
Pulte has denied knowing anything about the probe into the Fed, but this wouldn’t be the first time he has catapulted himself into the spotlight over a criminal investigation into someone perceived by Trump as an enemy. Nor is it the first time Pulte has taken on the central bank. In August, he posted on X that the agency he heads, the Federal Housing Finance Agency (FHFA), had referred a criminal case alleging mortgage fraud by Fed governor Lisa Cook to the Justice Department. “Cook must resign, now!!!” Trump posted on Truth Social two hours later. The Supreme Court will hear arguments Wednesday on whether the president has the power to fire her.
