Fed Chair Powell Referred to DOJ for Perjury Allegations

U.S. Representative Anna Paulina Luna has referred Federal Reserve Chair Jerome Powell to the Department of Justice for criminal investigation, accusing him of lying under oath about a taxpayer-funded $2.5 billion renovation of the Federal Reserve’s Eccles Building. Luna alleges Powell made materially false claims denying the existence of luxury amenities such as VIP dining rooms, marble finishes, special elevators, and rooftop gardens, which were contradicted by official project documents and submissions to the National Capital Planning Commission. She also challenged Powell’s statement that the building had never undergone a serious renovation, citing a comprehensive overhaul from 1999 to 2003. The referral highlights concerns over financial transparency and oversight, as the project's cost increased from $1.9 billion to $2.5 billion, with Powell characterizing the cost overruns as minor despite evidence to the contrary. The controversy has escalated tensions with President Donald Trump, who has criticized Powell's handling of interest rates and urged his resignation, though he recently indicated no plans to fire him. Powell denies the allegations, maintains the renovation is on track, and has requested an internal review of the project's management.