President Trump surprised Washington on Tuesday by announcing an unexpected replacement for Director of National Intelligence Tulsi Gabbard, selecting Federal Housing Finance Agency Director Bill Pulte to serve as acting DNI following Gabbard’s departure at the end of June.
The move caught many observers off guard, largely because Pulte has no previous experience working within the intelligence community. Instead, he currently oversees the Federal Housing Finance Agency and serves as chairman of mortgage giants Fannie Mae and Freddie Mac, positions he will continue to hold while taking on his new national security responsibilities.
President Trump made the announcement on Truth Social, praising Pulte’s management experience and highlighting the enormous financial responsibilities he already oversees.
“William has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 Trillion Dollars at Fannie Mae/Freddie Mac,” President Trump wrote. “During this period, he will remain Director of the Federal Housing Finance Agency, and Chairman of Fannie Mae/Freddie Mac. Congratulations to Director Pulte!”
The announcement represents a significant shift from an earlier transition plan. President Trump had previously indicated that Principal Deputy Director of National Intelligence Aaron Lukas would assume the acting role following Gabbard’s departure. The White House has not yet provided details regarding whether Lukas will remain in his current position or how responsibilities will be divided during the transition.
Gabbard’s final day as director of national intelligence is scheduled for June 30. Last month, she announced her decision to leave the administration, citing her husband Abraham’s health concerns and explaining that she wanted to devote more time to supporting him during his recovery.
Her departure comes at a particularly sensitive moment for American foreign policy. The intelligence community remains deeply involved in monitoring threats ranging from terrorism and cyberattacks to geopolitical tensions involving Iran, China, Russia, and other global hotspots.
Pulte’s selection suggests President Trump is prioritizing loyalty, management experience, and administrative oversight skills over traditional intelligence credentials. Throughout his tenure at the FHFA, Pulte has developed a reputation as one of the administration’s most outspoken officials. In recent months, he has made headlines by sending criminal referrals to the Justice Department involving several prominent political figures, including New York Attorney General Letitia James, Senator Adam Schiff, Federal Reserve Governor Lisa Cook, and former Congressman Eric Swalwell.
The appointment also raises questions about how long Pulte will remain in the role. President Trump did not announce a permanent nominee for director of national intelligence, nor did he provide a timeline for the acting appointment.
For now, Pulte appears set to wear multiple hats simultaneously, overseeing both the nation’s housing finance system and the office responsible for coordinating America’s sprawling intelligence apparatus. It is an unconventional arrangement, even by Washington standards, and one that is certain to draw close scrutiny in the weeks ahead as the administration navigates a changing national security landscape.
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