The war between the Trump administration and Fed Chair Jerome Powell has ratcheted up, with a top Trump ally in Congress referring Powell to the Department of Justice for criminal charges.
Representative Anna Paulina Luna, a Republican from Florida, announced on Monday that she had formally requested that the DOJ investigate Powell for perjury. Her letter accuses Powell of making false statements under oath while testifying to Congress about the ongoing renovation of the Fed’s headquarters in Washington.
— Rep. Anna Paulina Luna (@RepLuna) July 21, 2025
In her letter, which was addressed to Attorney General Pam Bondi, Luna listed three quotes from Powell’s testimony to Congress on June 25 and labelled them as “materially false.”
In her X post announcing the criminal referral, Luna wrote that Powell “knowingly misled both Congress and executive branch officials about the true nature of a taxpayer-funded project.”
She went on to write in the letter that “the integrity of oversight and the trust placed in public officials… demand accountability at the highest levels.”
Bondi is under no obligation to prosecute Powell based on Luna’s referral — many criminal referrals to the DOJ do not result in charges — but the move does give the attorney general an opening to investigate one of President Trump’s biggest foils of late.
Over the past few months, Trump has repeatedly lambasted the central banker for what he deems to be insufficient interest rate cuts. Powell has defended himself and maintained that uncertain inflation forecasts — created by Trump’s tariff bonanza — justified the fiscal caution.
Last week, Trump appeared to forget that he appointed Powell himself in 2017, raging at President Biden for the “terrible job” that Powell has done.
Powell has already responded to some of the claims in Luna’s criminal referral on account of a letter that Trump’s budget chief, Russell Vought, sent to Powell earlier this month.
In his response to Vought, Powell explained that many of the supposedly “ostentatious” plans for the new headquarters, including VIP dining rooms and marble water features, were no longer a part of the project.
Powell has not commented publicly on Luna’s criminal referral, and the Federal Reserve did not respond to an immediate request for comment.
Powell’s term as Fed chair expires in mid-2026.
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