Republican Lawmaker Accuses Powell of Perjury Over $2.5 Billion Building Project

Florida Republican Anna Paulina Luna has formally accused Federal Reserve Chairman Jerome Powell of perjury, focusing on his testimony concerning the construction of a new Federal Reserve building. Luna's accusation, posted on X, alleges that Powell's statements about the $2.5 billion project were misleading and potentially criminal. This has led to a formal referral to the Department of Justice (DOJ) for a criminal investigation into the perjury claims, highlighting the gravity of the allegations.

Luna's actions occur within a broader political context where Powell's leadership at the Federal Reserve has been under intense scrutiny. The perjury allegations add another layer of complexity to Powell's tenure, which has already faced criticism from various political factions. The referral to the DOJ suggests that Luna believes there is sufficient evidence to warrant a thorough investigation into Powell's conduct.

The core of the allegations revolves around Powell's testimony regarding the cost and necessity of the new Federal Reserve building. Luna contends that Powell's statements were not truthful and that the project's costs and benefits were misrepresented. This has sparked calls for greater transparency and accountability in the Federal Reserve's operations, with some lawmakers questioning the institution's oversight and decision-making processes.

Powell has defended his actions, asserting that they align with the Federal Reserve's mandate and that the new building is essential to meet the institution's operational needs. However, the perjury allegations have raised questions about the integrity of the Federal Reserve's leadership and its commitment to transparency.

The situation underscores the ongoing tensions between the Federal Reserve and Congress, with lawmakers increasingly scrutinizing the central bank's actions and decisions. The referral to the DOJ is a significant development in this ongoing debate, and it remains to be seen how the investigation will unfold and what impact it will have on Powell's leadership and the Federal Reserve's operations.