Fed Chair Jerome Powell hit with criminal referral by House GOP Trump ally

FIRST ON FOX: Rep. Anna Paulina Luna, R-Fla., is referring Federal Reserve Chair Jerome Powell to the Department of Justice (DOJ) for criminal charges, accusing him of two specific instances of lying under oath.

Luna is accusing Powell of perjury on two occasions, according to a letter to the DOJ first obtained by Fox News Digital.

It comes as conservative Trump allies continue to demand that Powell, a Trump appointee himself, be fired before his term expires in mid-2026.

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"On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims," Luna's letter said.

Specifically, she accused him of lying about lavish amenities at the Federal Reserve's Eccles Building and misrepresenting its state of maintenance.

"Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance," Luna wrote.

She claimed his statement that the cost increase was to simplify construction and avoid further delays was false.

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"It is contradicted by the Federal Reserve’s final submission to the National Capital Planning Commission (NCPC) and by the assertions made in Director Vought’s own original letter to Chairman Powell," Luna wrote.

"According to those records, the revised plan includes a VIP private dining room, premium marble finishes, modernized elevators, water features, and a roof terrace garden—features that Powell publicly denied existed. While Powell presented the changes as simplifications, the actual project plans suggest the opposite."

She first announced she would be referring Powell last week on X.

Perjury can be punishable by up to five years in prison in addition to fines.

Trade outlet Mortgage Professional reported that Powell denied all accusations of perjury and has directed a formal watchdog probe into renovation project costs of the Eccles Building.

The Federal Reserve's website also now includes a video tour of the renovation and notes on its proposed plans.

Fox News Digital reached out to the Federal Reserve for further comment but did not immediately hear back.

Luna previously wrote on X that she believed President Donald Trump would soon fire Powell, but that has not yet come to fruition.

Trump has been attacking Powell for not heeding his direction to drop interest rates. He told reporters it was "highly unlikely" he would fire him, however.

More moderate Republicans and supporters of Powell's, however, have argued that firing him would create even more market instability.