Florida Republican Congresswoman Anna Paulina Luna has formally referred Federal Reserve Chair Jerome Powell to the Department of Justice for a criminal investigation, alleging that he made “materially false” statements under oath to Congress regarding the Federal Reserve’s costly headquarters renovation.
In a referral letter sent Monday to Attorney General Pam Bondi, Luna accused Powell of perjuring himself during his June 25 testimony before the Senate Committee on Banking, Housing, and Urban Affairs.
She claims that Powell misled lawmakers about the nature and scope of the renovations to the central bank’s Washington, D.C. building—now estimated to cost $2.5 billion, up from $1.9 billion.
“I have formally referred Jerome Powell to the DOJ for criminal investigation,” Luna posted 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.”
The alleged falsehoods center on Powell’s denial of reports that the renovation includes lavish design elements such as marble finishes, a VIP dining room, a roof terrace garden, and water features. Luna asserts that these features are explicitly listed in project documents submitted to the National Capital Planning Commission, contradicting Powell’s sworn testimony.
“While Powell presented the changes as simplifications, the actual project plans suggest the opposite,” Luna wrote in the referral.
She also cited Powell’s correspondence with former Office of Management and Budget Director Russell Vought, who had questioned the rising costs and scope of the renovation. Vought compared the project’s extravagance to that of the Palace of Versailles, a characterization Luna said is supported by planning documents.
“The discrepancies between Chairman Powell’s sworn testimony and the factual record call for a thorough and impartial review by your office,” Luna told Bondi. “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.”
Powell, who has repeatedly clashed with congressional Republicans, remains under mounting political pressure as President Donald Trump pushes for aggressive interest rate cuts ahead of the 2026 expiration of Powell’s term. Trump has publicly called for Powell’s resignation, criticizing his economic leadership and accusing him of obstructing growth.