Republican Lawmaker Accuses Fed’s Powell of Lying to Congress
Main Idea
Republican lawmaker Anna Paulina Luna accuses Federal Reserve Chair Jerome Powell of misleading Congress about the renovation costs of the Federal Reserve’s Eccles Building, and has urged the Department of Justice to investigate.
Key Points
1. Rep. Anna Paulina Luna, a Florida Republican, filed a referral to the DOJ accusing Powell of lying about the extent of renovations at the Federal Reserve’s Eccles Building.
2. Powell claimed the renovations involved only basic updates, but reports indicate they included luxury features like private VIP dining areas and marble finishes.
3. Luna, an ally of former President Trump, has called for Powell’s removal before his term ends in 2026, though Trump has stated such a move is 'highly unlikely' for now.
4. Some moderate Republicans warn that removing Powell could destabilize financial markets.
5. Powell has responded by pushing for a formal review of the renovation project’s expenses by an independent watchdog to address allegations of misrepresentation.
Description
Powell faces perjury allegations tied to undisclosed luxury upgrades at Fed HQ GOP pressure mounts on Powell amid conflict over rates and renovation disclosures Fed launches transparency steps as Luna urges DOJ probe into Powell’s testimony Federal Reserve Chair Jerome Powell is now facing a formal criminal referral filed by Rep. Anna Paulina Luna, a Florida Republican and ally of President Trump. The referral, sent to the Department of Justice, accuses Powell of lying under oath to Congress on ...
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