Rep. Anna Paulina Luna accuses Powell of perjury tied to lavish Fed building renovations as Trump allies ramp up pressure
WASHINGTON, D.C. — Federal Reserve Chairman Jerome Powell is facing a criminal referral to the Department of Justice from House Republicans, marking a major escalation in the ongoing feud between Trump-aligned lawmakers and the central bank’s embattled chief.
Rep. Anna Paulina Luna (R-Fla.), a vocal Trump supporter, has accused Powell of perjury in connection to congressional testimony about the costly renovation of the Fed’s historic Eccles Building in Washington. According to a letter obtained exclusively by Fox News Digital, Luna claims Powell lied under oath on two separate occasions.
Allegations of False Testimony
In her referral letter to the DOJ, Luna cites Powell’s June 25, 2025 testimony before the Senate Banking Committee, where he allegedly made “materially false claims” regarding both the necessity and scope of the Fed building’s renovations.
“Chairman Powell told the Senate the changes were minor, but internal documents and planning submissions show that couldn’t be further from the truth,” Luna wrote.
She says the real renovation plans include luxury features like a private VIP dining room, rooftop terrace garden, water features, premium marble finishes, and upgraded elevators—amenities that Powell reportedly denied under oath.
Luna also points to Powell’s written communication with former OMB Director Russell Vought, where he downplayed the building’s cost increase from $1.9 billion to $2.5 billion, characterizing the escalation as minor adjustments needed to avoid construction delays.
“Powell’s claims are contradicted by the Federal Reserve’s final submission to the National Capital Planning Commission,” Luna wrote.
Trump Allies Turn Up the Heat
The referral comes as a growing number of conservatives in the House are pressuring Powell to step down or be removed before his term expires in 2026. Though Powell was originally appointed by President Trump, the relationship between the two has soured.
Trump has frequently criticized Powell for keeping interest rates high and not doing more to boost consumer savings and economic growth. While Trump recently said it’s “highly unlikely” he would fire Powell, the possibility has not been ruled out.
Fed Pushes Back on Allegations
According to Mortgage Professional America, Powell has denied all accusations of perjury and requested a formal inspector general review into the Eccles Building project. The Federal Reserve has since published a video tour of the renovation on its website along with documentation explaining the upgrades.
Fox News Digital reached out to the Fed for additional comment but did not receive a response as of publication time.
Criminal Referral Could Carry Legal Risk
If prosecuted, perjury charges could carry penalties of up to five years in prison and significant fines. While a referral does not guarantee prosecution, it sends a strong political signal and further fuels scrutiny of Powell’s leadership at the central bank.
Luna originally announced her intent to file the referral on social media last week. On X, she also suggested she believes Trump may still remove Powell before his term concludes—though that action has not yet materialized.
Meanwhile, some more moderate Republicans and Powell’s defenders warn that removing the Fed chair could spark financial uncertainty and destabilize markets at a critical time for the U.S. economy.
