Fed Chair Jerome Powell Referred to DOJ for Allegedly Misleading Congress on Renovation Project
U.S. Representative Anna Paulina Luna has officially referred Federal Reserve Chair Jerome Powell to the Department of Justice for a potential criminal investigation, accusing him of providing false testimony to Congress regarding a taxpayer-funded renovation of the Fed’s headquarters.
The Florida Republican claims Powell made “materially false statements” during a June 25, 2025 congressional hearing. In a statement posted to X (formerly Twitter), Luna wrote:
“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.”
In a letter to Attorney General Pam Bondi, Luna cited two key areas where she says Powell’s testimony conflicted with official records:
- Powell denied the existence of luxury features—including a VIP dining room, marble finishes, special elevators, water features, and roof terrace gardens—as part of the renovation. Luna claims the Federal Reserve’s final report to the National Capital Planning Commission includes nearly all of these elements.
- Powell also stated that the Eccles Building had “never had” a serious renovation before the current one. However, Luna pointed out that the Federal Reserve Board undertook a major renovation between 1999 and 2003, replacing the roof, all major systems, and updating interior and courtyard areas.
The letter urges the DOJ to investigate whether Powell violated federal laws concerning false statements to Congress.
Despite the seriousness of the referral, betting markets remain skeptical about any near-term consequences. According to Polymarket, there is only a 20% chance Powell will be removed as Fed Chair this year.
