House Republican Files DOJ Perjury Complaint Against Fed Chair Jerome Powell
Rep. Anna Luna Calls for Federal Reserve Chair Jerome Powell to Face Prosecution Over Alleged False Statements
Representative Anna Luna has formally referred Federal Reserve Chair Jerome Powell to the Department of Justice, accusing him of perjury related to the lavish renovations of the Federal Reserve’s headquarters in Washington, D.C. Luna contends that Powell provided false testimony during a Senate hearing about the scope and cost of the project, which is estimated to exceed $2.4 billion and is slated for completion by 2027.
During a recent Senate Banking Committee hearing, Powell claimed that the building, originally constructed between 1935 and 1937, required extensive renovations due to safety and waterproofing issues, and that plans included amenities like rooftop gardens, skylights, and a VIP dining area. Luna’s analysis, supported by Federal Reserve planning documents, shows that most of Powell’s statements contradict the actual renovation plans, which feature luxurious rooftop terraces, water features, Georgian marble, and an elevator directly serving a VIP dining suite. Notably, Italian beehives have already been installed on the roof.
Luna stated that Powell’s misrepresentations are not minor errors, asserting that he “knowingly misled Congress and executive officials” about the project’s true nature. This comes amid broader criticism of the Federal Reserve’s spending, with some congressional members questioning whether the renovation’s opulence reflects good stewardship of public funds, especially as infrastructure needs remain pressing.
Recent reports from the Fed’s inspector general project the renovations will cost at least $2.4 billion. Meanwhile, Powell has defended the upgrades, citing the building’s age and safety concerns, but has admitted to cost overruns. The controversy has also touched on Powell’s cautious approach to interest rate adjustments, with critics arguing his resistance to rate cuts amid tariffs could fuel inflation.
In a recent statement, Luna emphasized the gravity of the allegations, highlighting that lying under oath is a serious federal crime, particularly for someone overseeing the nation’s monetary system. President Trump previously considered firing Powell but later indicated such action was unlikely.
