Rep. Anna Paulina Luna, a staunch Trump ally from Florida, has launched a bold move against Federal Reserve Chairman Jerome Powell, accusing him of lying under oath. Her criminal referral to the Department of Justice aims to hold him accountable for what she calls deliberate deception.
According to Fox News, Luna claims Powell committed perjury during Senate testimony on June 25, 2025, and in a letter to the Office of Management and Budget. The accusations center on his statements about the costly renovation of the Federal Reserve’s Eccles Building.
The referral is the latest salvo in a broader push by conservative allies of President Trump to oust Powell before his term ends in mid-2026. While Powell was a Trump appointee, tensions have flared over his refusal to bend to demands for aggressive interest rate cuts.
Luna’s letter to the DOJ zeroes in on Powell’s Senate testimony, where she alleges he made materially false claims about the Eccles Building project. She argues he misrepresented the state of maintenance and denied the inclusion of lavish amenities.
In a separate instance, Luna points to a letter Powell sent to OMB Director Russell Vought, describing cost escalations from $1.9 billion to $2.5 billion as minor adjustments. She contends this contradicts evidence showing the project’s scope ballooned far beyond what was claimed.
Quoting Powell’s portrayal of the changes as simplifications to avoid delays, Luna dismantles this by citing records from the National Capital Planning Commission. Those documents reveal additions like a VIP dining room and premium marble finishes, hardly the cost-saving measures Powell suggested.
The revised plans for the Eccles Building, as uncovered by congressional investigators, include modernized elevators, water features, and a roof terrace garden. Luna argues these luxury additions directly contradict Powell’s public statements denying their existence.
She further notes that Powell’s narrative of streamlining construction falls apart when matched against the Federal Reserve’s final submission to the NCPC. The evidence paints a picture of unchecked spending rather than fiscal restraint.
On X, Luna announced her intent to refer Powell for criminal charges last week, signaling this was no spontaneous outburst. Perjury, she reminds her followers, carries penalties of up to five years in prison alongside fines.
In response to the accusations, Powell has firmly denied any wrongdoing and initiated a formal watchdog probe into the renovation costs. Trade outlet Mortgage Professional reported on his push for transparency amid the growing controversy.
The Federal Reserve has also taken steps to address public concern by posting a video tour of the renovation on its website. Detailed notes on the proposed plans accompany the footage, though skepticism remains high among critics.
While Luna has publicly speculated on X that President Trump might soon fire Powell, the president himself has called such a move highly unlikely. Trump’s ongoing frustration with Powell’s resistance to rate cuts, however, keeps the tension simmering.
More moderate Republicans and Powell supporters warn that dismissing him could destabilize markets at a fragile economic moment. They argue that continuity at the Fed outweighs political grievances, even if policy disagreements persist.
Luna’s referral, while a long shot for actual prosecution, amplifies the conservative critique of unelected officials wielding outsized influence. It’s a signal that accountability, not just compliance, is the expectation from those who distrust centralized power.
This clash isn’t just about a building renovation; it’s a microcosm of a larger fight over who steers America’s economic ship. As the DOJ reviews Luna’s claims, the spotlight on Powell will only grow brighter, with ripple effects for policy and politics alike.
