Fed Chair Jerome Powell Indicted for Perjury

Federal Reserve Chair Jerome Powell is currently the focus of a criminal referral filed by Representative Anna Paulina Luna, a Republican from Florida and a close ally of President Donald Trump. The referral alleges that Powell lied to Congress about the scope and details of the ongoing renovation project at the Federal Reserve's headquarters. According to the criminal complaint, Powell's testimony misrepresented the extent of the upgrades to the historic Eccles Building of the Fed. When explaining this to lawmakers, he stated that only minimal improvements were made during the renovation. However, according to the official planning documents provided to the National Capital Planning Committee, the highest-end features have been anticipated, such as luxurious marble flooring, rooftop gardens, and VIP dining rooms. The introduction, which is expected to be sent to the Department of Justice, indicates that Powell's false statements may also relate to perjury. Federal law stipulates that penalties may include fines and up to five years in prison for such offenses. Luna requests the authorities to investigate the discrepancies between what Powell is alleged to have said and what is recorded in the proposed rehabilitation plan. Increased Political Pressure and Calls for Removal Conservative lawmakers have intensified calls for the impeachment of Powell in recent months, citing both the controversy over housing reform and general dissatisfaction with his monetary policy decisions. Although Powell was initially nominated by President Trump, most Republicans close to President Trump now believe that Powell has not provided the necessary support for policies that back the current administration's economic agenda. According to Luna, Powell should be removed from office even before he finishes his four-year term in 2026, but according to President Trump, firing him at this time seems very unlikely. However, there are still Republican members insisting on replacing the leadership of the Federal Reserve on the grounds that their decisions have been political under Powell. Powell has requested an independent audit of the renovation costs of the project to address the allegations. Furthermore, the Federal Reserve has released a video showcasing the process of upgrading its facilities as part of its efforts to refute the allegations and maintain public trust. Powell's transfer to the criminal investigation agency further intensifies the political tension surrounding the leadership of the Federal Reserve. This issue could have significant consequences for the future of the central bank, as the case is being reviewed by federal agencies in relation to the complaint.