U.S. lawmakers accuse Fed Chairman Powell of perjury twice, could face 5 years in prison

On July 22, according to reports, U.S. House Representative Anna Paulina Luna filed criminal charges with the Department of Justice, alleging that Fed Chair Powell committed perjury twice.

Luna wrote in the letter: "On June 25, 2025, Powell testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Fed's Eccles Building. In his statement, he made several significant false statements."

Luna also stated: "In addition, in a letter to the Director of the Office of Management and Budget (OMB), Russell Vought, Powell indicated that the change in the project cost from $1.9 billion to $2.5 billion is negligible. However, documents reviewed by congressional investigators suggest that the scope and cost overruns of this project are fundamentally and substantively not minor issues." Apart from fines for perjury, a maximum sentence of 5 years in prison may be imposed.