Probe sought over disputed statements on federal project
Representative Anna Paulina Luna, R-Fla., has formally referred Federal Reserve chair Jerome Powell to the Department of Justice for potential criminal investigation, accusing him of perjury and making false statements under oath. The referral alleges two specific instances where Powell purportedly misrepresented facts during testimony and in correspondence regarding the renovation of the Federal Reserve’s Eccles Building.
According to a letter to the DOJ first obtained by Fox News Digital, congresswoman Luna’s letter, addressed to attorney general Pam Bondi, cites 18 U.S.C. § 1621 and 18 U.S.C. § 1001, statutes that govern false statements made under oath and false statements to federal officials, respectively. The referral comes amid ongoing calls from conservative allies of president Donald Trump to remove Powell from his position before his term concludes in mid-2026.
Allegations of false statements
One of the central accusations stems from Powell’s June 25, 2025, testimony before the US Senate Committee on Banking, Housing, and Urban Affairs. Luna contends that Powell made “materially false claims” about the Eccles Building renovation.
Specifically, she highlights his statements denying the existence of a “VIP dining room,” “new marble,” “special elevators,” “new water features,” “beehives,” and “roof terrace gardens”. Luna’s letter asserts that the Federal Reserve’s final submission to the National Capital Planning Commission (NCPC) contradicts nearly all of these denials, with the exception of the beehives.
Furthermore, Luna alleges Powell falsely claimed the Eccles Building “had never had” a serious renovation. This statement, according to the referral, is contradicted by a comprehensive renovation of the building conducted from 1999 to 2003, which included roof replacement, system overhauls, and interior refurbishing.
Alleged misleading of OMB on cost overruns
A separate accusation detailed in the referral concerns a letter from Powell to Office of Management and Budget (OMB) director Russell Vought. Powell characterized changes that escalated the project’s cost from $1.9 billion to $2.5 billion as “minor”. However, congressional investigators’ documents suggest the scope and cost overruns were “neither minor in nature nor in substance”.
Luna asserts Powell’s statement that these changes were intended to “simplify construction and reduce the likelihood of further delays and cost increases” is false. She states this claim is contradicted by the Federal Reserve’s submission to the NCPC and Vought’s own original letter to Powell.
These records, Luna points out, indicate the revised plan includes features Powell publicly denied, such as a VIP private dining room, premium marble finishes, modernized elevators, water features, and a roof terrace garden.
The congresswoman emphasizes that if Powell “knowingly misrepresented these facts—whether in testimony before Congress or in formal correspondence to senior executive officials—such actions may constitute perjury or materially false statements under federal law”. She calls for a “thorough and impartial review” by the Justice Department, stating that “the integrity of oversight and the trust placed in public officials…demand accountability at the highest levels”. Perjury can carry a penalty of up to five years in prison, in addition to fines.
Powell has reportedly denied the accusations of perjury and has directed a formal watchdog probe into the renovation costs of the Eccles Building. The Federal Reserve’s website now features a video tour of the renovation and notes on its proposed plans.
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