Jerome Powell Accused Of Lying To Congress, Hit With Criminal Referral

Florida GOP Congresswoman Anna Paulina Luna referred Federal Reserve Chair Jerome Powell to the Justice Department on Monday for a criminal investigation over “materially false” claims she said he made to Congress. 

Luna’s criminal referral letter to Attorney General Pam Bondi said that Powell appeared to commit perjury when he testified before the Senate Committee on Banking, Housing, and Urban Affairs last month about renovations to the Federal Reserve’s headquarters. Luna said that Powell made “several materially false claims” about the scope and cost of the construction during his June 25 testimony. 

“I have formally referred Jerome Powell to the DOJ for criminal investigation,” Luna, a staunch ally of Trump, announced on X. “Chairman Powell knowingly misled both Congress and executive branch officials about the true nature of a taxpayer-funded project. Lying under oath is a serious offense— especially from someone tasked with overseeing our monetary system and public trust.”

Specifically, Luna said that Powell lied when he denied reports about luxurious upgrades being made to the Fed’s headquarters, including roof terrace gardens, new marble, and new elevators. Luna said that these denials contradicted actual project plans submitted to the National Capital Planning Commission. 

“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,” she wrote. 

Luna also took issue with a letter Powell wrote to Office of Management and Budget Director Russell Vought about the construction and the increase in costs from $1.9 billion to $2.5 billion. Vought has pressed Powell over the renovations, likening it to the construction of France’s Palace of Versailles.

“The discrepancies between Chairman Powell’s sworn testimony and the factual record call for a thorough and impartial review by your office,” Luna wrote. “The integrity of oversight and the trust placed in public officials particularly those responsible for monetary policy and stewardship of taxpayer resources demand accountability at the highest levels.”

In recent weeks, Powell has frequently clashed with Republicans as President Donald Trump has pushed him to cut interest rates. Trump has called for Powell to resign immediately ahead of the expiration of his term as chair in May 2026.