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EXCLUSIVE REPORT: Representative Anna Paulina Luna, a Republican from Florida, has made headlines by referring Federal Reserve Chair Jerome Powell to the Department of Justice for potential criminal charges. This referral comes as Luna alleges that Powell provided false testimony under oath on two separate occasions.
The allegations, detailed in a letter to the DOJ obtained by Fox News Digital, claim that Powell committed perjury during his testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. These serious accusations arise in a volatile political atmosphere where conservative allies of former President Donald Trump are calling for Powell’s removal before his term shadows into mid-2026.
Luna’s initiative to refer Powell for criminal charges adds fuel to ongoing controversies surrounding the Federal Reserve’s actions and Powell’s leadership. The former president’s loyalists continue to scrutinize Powell, despite his original appointment by Trump.
On June 25, 2025, during a hearing regarding renovations at the Federal Reserve’s Eccles Building, Powell allegedly made multiple materially false claims, according to Luna’s correspondence. She specifically points to misstatements about the luxurious amenities featured in the renovations and the actual state of the building’s maintenance.
In her letter, Luna noted, “In a communication to Office of Management and Budget Director Russell Vought, Chairman Powell described the changes that inflated project costs from $1.9 billion to $2.5 billion as minor.” However, she contends that investigations reveal these cost overruns were significant and not minor as described by Powell.
Luna further claims that Powell misled the public when he explained that the rise in costs was to streamline construction and avoid delays. Her allegations dispute Powell’s characterization, asserting that the Federal Reserve’s final plan contradicts his statements.
According to Luna, the revised plans involved elaborate upgrades, including a VIP dining area, high-end marble finishes, modernized elevators, and even a rooftop garden. These enhancements, she argues, contradict Powell’s earlier assertions that the changes were minimal.
Moreover, she expressed her intention to refer Powell for these charges last week via social media platform X, drawing considerable attention to the matter. As the potential ramifications of these allegations unfold, the issue of perjury remains dire, with consequences ranging up to five years in prison, along with significant fines.
In response to the mounting allegations, Powell has publicly denied any wrongdoing and has initiated a formal investigation into the Eccles Building renovation project. The Federal Reserve has made efforts to address transparency surrounding the project, now featuring a video tour and additional notes about proposed renovations on its official website.
Fox News Digital has reached out to the Federal Reserve for further comment on the allegations and the ongoing investigations. However, the agency has yet to provide an immediate response.
Luna’s previous statements on social media hinted at her belief that Trump would soon remove Powell from his position. Despite these expectations, such actions remain pending, showcasing the complexities of political alignments within the current landscape.
Trump has openly criticized Powell for not adhering to his recommendations regarding interest rate reductions, stating it is “highly unlikely” he would dismiss him. Meanwhile, moderate Republicans continue to argue that terminating Powell could lead to further instability in financial markets, countering the more extreme calls for his removal.
The unfolding scenario raises essential questions about accountability within the Federal Reserve and the political forces influencing its leadership. As public interest grows, the implications of these allegations will likely continue to reverberate throughout the economy and across the political spectrum.
The debates surrounding Powell’s performance and the Federal Reserve’s policy decisions underscore the intricate connections between economic governance and political strategy. In an era where transparency and trust are paramount, the need for clear accountability remains crucial as the story develops.
