Congresswoman Anna Polina Luna, known for her support of Donald Trump, has formally requested the U.S. Department of Justice to initiate criminal proceedings against Jerome Powell, the Chair of the Federal Reserve System (Fed). Luna accused Powell of perjury before the Senate and deliberately concealing information about the costs of a large-scale renovation project for the Fed’s headquarters.
This is reported by Finway
Allegations Regarding the Renovation of the Eccles Building
Anna Luna claims that during hearings before the U.S. Senate Banking Committee on June 25, 2025, Powell, while under oath, denied the existence of luxury amenities in the renovation plan for the Eccles Building, the Fed’s main office. According to her, he made “materially false statements” regarding the establishment of a VIP dining room, marble finishes, water installations, a rooftop garden, and modern elevators, as well as downplayed the true scale and cost of the renovation, which increased from $1.9 billion to $2.5 billion.
“According to documents already reviewed by Congressional investigators, the changes were neither minor in nature nor insignificant in scope,” Luna wrote.
Luna emphasizes that Powell intentionally presented the updated renovation plan as simplified to conceal excessive costs. In her letter, she refers to documents addressed to the Director of the Office of Management and Budget, Russell Vought, in which Powell allegedly minimized the scale and cost of the changes. She noted that these statements contradict both the official plans submitted to the National Capital Planning Commission and the position of Director Vought himself.
Powell’s Response and Political Context
Amid escalating conflict between conservative Republicans and Fed leadership, Powell has denied all allegations of providing false testimony and initiated an internal investigation into the use of funds for the renovation. Meanwhile, Luna stresses the need for a thorough examination of his testimony and actions.
The question of Powell’s tenure is increasingly contentious among politicians. Anna Luna has previously stated that she expects him to be dismissed by Donald Trump, although Trump himself noted back in April that he does not plan to do so. Meanwhile, some Republicans and Powell supporters warn that a sharp change in Fed leadership could pose additional risks to financial markets.
Currently, the discussion is intensifying due to the Fed’s interest rate policy: in June, the regulator kept the rate at 4.5% for the fourth consecutive time, which drew criticism from Trump. Powell, speaking in the House of Representatives, emphasized that there are currently no grounds for easing monetary policy.
It is worth noting that in April, the Supreme Court temporarily approved an expansion of the U.S. President’s powers to dismiss employees of independent federal agencies, including the Fed. This creates additional tension in the relationships between the White House, Congress, and financial regulators.