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DISTRICT OF COLUMBIA, JUL 17 – Florida Rep. Anna Paulina Luna referred Fed Chair Jerome Powell to DOJ over alleged perjury about a $2.5 billion Fed HQ renovation with disputed features and rising costs.

  • On Thursday, Rep. Anna Paulina Luna referred Jerome Powell to the DOJ, investigating alleged perjury over his Fed headquarters renovation testimony.
  • Taxpayers face roughly $2.5 billion in renovation bills for the Fed’s Washington headquarters, with expenses climbing $700 million above estimates.
  • Last month, Powell denied under oath that the renovation included VIP dining rooms, despite original planning documents listing those features.
  • The administration argues the misconduct could justify firing Powell 'for cause', while President Donald Trump said he is 'highly unlikely' to remove him.
  • Despite mounting calls for an investigation, the Fed’s independence shields Powell from mandatory cooperation, and criminal referrals don’t compel DOJ action, which has yet to respond.
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Weekly Real Estate News broke the news in on Thursday, July 17, 2025.
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