House GOP ally of President Trump, Representative Anna Paulina Luna (R-FL), is referring Federal Reserve Chair Jerome Powell to the Department of Justice (DOJ) for criminal prosecution alleging two instances where he lied under oath.
The letter to the DOJ, obtained by Fox News Digital, accuses Powell of perjury in two cases. The letter read:
On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims.
Representative Luna specifically accused him of lying about lavish amenities at the Federal Reserve's Eccles Building, where renovations characterized as minor would cost taxpayers between $1.9 and $2.5 billion.
The letter continued:
Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance.
It is contradicted by the Federal Reserve’s final submission to the National Capital Planning Commission (NCPC) and by the assertions made in Director Vought’s own original letter to Chairman Powell.
According to those records, the revised plan includes a VIP private dining room, premium marble finishes, modernized elevators, water features, and a roof terrace garden—features that Powell publicly denied existed. While Powell presented the changes as simplifications, the actual project plans suggest the opposite.
Representative Luna had initially announced that she would be seeking criminal charges against Powell last week on X.
I am criminally referring Jerome Powell to the DOJ to investigate perjury regarding his crazy $2.5BN building.
— Rep. Anna Paulina Luna (@RepLuna) July 17, 2025
Powell has denied all perjury accusations and ordered a formal watchdog investigation into the renovation costs. In an effort to increase transparency, the Federal Reserve website now has a video tour of the renovation and various notes on the proposed plans for renovation.
Getting convicted of perjury may result in five years of jail time plus additional fines.
Representative Luna's push for criminal prosecution against Jerome Powell comes amid President Trump's continued displeasure with the Fed's unwillingness to reduce interest rates. Last week, there were rumors that Powell was going to be fired, but the President denied those rumors.
Editor's Note: President Trump is leading America into the "Golden Age" as Democrats try desperately to stop it.
Help us continue to report on President Trump's successes. Join Townhall VIP and use promo code FIGHT for 60% off your membership.
Join the conversation as a VIP Member