Representative Anna Paulina Luna (R-FL) has referred Federal Reserve Chairman Jerome Powell for a criminal investigation into potential perjury charges, saying, "Lying under oath is a serious offense— especially from someone tasked with overseeing our monetary system and public trust."
In this specific instance, Rep. Luna is accusing Powell of lying about renovations to the Federal Reserve Eccles Building, which were supposedly set to include premium marble, water features, a rooftop terrace garden, and a VIP dining room, despite records indicating that these plans were being made.
Additionally, Powell claimed that the building had never undergone a significant renovation, despite the Eccles Building undergoing an overhaul between 1999 and 2003.
Rep. Luna further accused the Chairman of lying about the budget for these renovations in correspondence with former Office of Management and Budget (OMB) Director Russell Vought, which ballooned over $600 million.
"These are not minor misstatements," the Florida Congresswoman said in her press release, adding, "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. The American people deserve transparency— not deception— especially when billions of dollars and institutional integrity are at stake."
In March 2024, Senator Rick Scott (R-FL), a longtime critic of Powell, called for reform of the Fed after reports indicated that conflicts of interest are not adequately addressed and officials are often let off easy for corruption.
More recently, Representative Abe Hamadeh (R-AZ) joined the calls for Powell to resign, citing his supposed "gross mismanagement" of renovating the Fed's headquarters with the initial $2.5 billion budget (which Rep. Hamadeh called "ostentatious), adding another $700 million, slowness in lowering interest rates, lack of candor, and failure to analyze the economic effects of President Donald Trump's tariffs on various nations.
"Aside from the burden you [Powell] have placed on taxpayers, who must foot the bill for your frivolous fabrications, you have failed to properly assess the impact of President Donald Trump's tariff policy," said Rep. Hamadeh.
