Federal Reserve Chairman Jerome Powell has been charged with a felony for false testimony. Chairman Jerome Powell is currently the focus of a criminal referral file submitted by Florida Republican Congresswoman Anna Paulina Luna, a close ally of Donald Trump. The referral file accuses Powell of lying to Congress about the scale and details of the Federal Reserve's ongoing headquarters renovation project. According to the criminal complaint, Powell's testimony distorted the extent of upgrades to the Federal Reserve's historic Eccles Building. When explaining this to lawmakers, he stated that only minimal improvements were made during the renovation. However, according to official planning documents provided to the National Capital Planning Commission, high-end features such as luxurious marble interiors, rooftop gardens, and VIP dining rooms have been envisioned. The brief is expected to be submitted to the Department of Justice, indicating that Powell's false testimony may also involve perjury charges. Penalties prescribed by federal law may include fines and a maximum of five years in prison for such offenses. Luna has called for an investigation into the discrepancies between what Powell is accused of saying and what is recorded in the anticipated renovation plans. Increased political pressure and calls for his removal Conservative lawmakers have increasingly called for Powell's ouster in recent years, citing controversies over housing renovations and general dissatisfaction with his monetary policy decisions. Although Powell was initially nominated by Donald Trump, most Republicans who are closely aligned with Trump now believe that Powell has not provided the necessary support for the current administration's economic agenda. According to Luna, Powell should be removed before his four-year term ends in 2026, but according to President Trump, it seems difficult to fire him at this time. However, some Republican members still insist on replacing the leadership of the Federal Reserve, arguing that their decisions during Powell's tenure have been political. Powell has requested an independent audit of the project renovation costs in response to the allegations. Additionally, the Federal Reserve released a video introducing the process of infrastructure upgrades as part of its efforts to rebut the accusations and maintain public trust. Powell's transfer to criminal investigative agencies further escalates the political tensions surrounding the Federal Reserve leadership. This incident could have significant implications for the future of the central bank, as the case is currently under review by federal agencies involving complaints.