Politics
Rep. Luna Targets Fed Chair Over Renovation Costs
"Anna Paulina Luna" by Gage Skidmore is licensed under CC BY-SA 2.0 
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Clear Facts
- Rep. Anna Paulina Luna is referring Federal Reserve Chairman Jerome Powell to the DOJ for alleged perjury related to the Fed’s $2.5 billion headquarters renovation project.
- The renovation’s cost has increased from $1.9 billion to $2.5 billion, with the Fed attributing the rise to pandemic-related price hikes.
- Former President Donald Trump has publicly called for Powell to step down amid these allegations.
In a bold move, Republican Representative Anna Paulina Luna from Florida has officially taken steps to hold Federal Reserve Chairman Jerome Powell accountable. Luna announced on social media that she is referring Powell to the Department of Justice to investigate potential perjury concerning the Fed’s headquarters renovation project, which has ballooned to a staggering $2.5 billion.
The renovation, initially approved by the National Capital Planning Commission in September 2021, has faced scrutiny due to its escalating costs. Luna expressed her concerns, describing the project as “crazy” and emphasizing her decision to involve the DOJ.
“I am criminally referring Jerome Powell to the DOJ to investigate perjury regarding his crazy $2.5BN building,” Luna stated.
The controversy surrounding Powell’s testimony began to gain traction in July when Federal Housing Finance Agency Director Bill Pulte urged Congress to investigate Powell. Pulte alleged that Powell’s testimony to the Senate had been “deceptive,” a claim that caught the attention of many, including former President Donald Trump.
The Fed’s Board of Governors first approved the renovation in 2017, with the project being “subject to annual budget approval by the Board since then,” as noted on the Fed’s website. The central bank’s independent Office of Inspector General has had “full access to the project information on costs, contracts, schedules, and expenditures and receives monthly reports on the construction program.”
Despite these oversight measures, the project’s total costs have surged by an estimated $700 million, rising from approximately $1.9 billion to $2.5 billion. The Fed has attributed this increase to pandemic-induced price hikes for essential materials like steel and cement, along with additional underground work that contributed to the cost escalation.
Adding to the controversy, Trump officials have claimed that the renovation includes extravagant features such as VIP dining rooms and elevators, though Powell has denied these allegations.
In response to the growing scrutiny, Powell has requested a review of the project. He called upon Fed Inspector General Michael Horowitz to investigate the costs and any other pertinent matters.
Let us know what you think, please share your thoughts in the comments below.
Charlie Evering
July 18, 2025 at 5:38 pm
If I did this kind of stuff when I worked in the public sector I would not have maintained my job very long.
David
July 18, 2025 at 5:53 pm
I will not pass judgment until the matter has been adequately investigated…
Maxx
July 18, 2025 at 9:36 pm
With the recent disclosure by DOGE that there are tens of thousands of square feet of space in many currently unused government owned or leased buildings it is unconscionable to want to spend $2.5 billon on renovations to the Fed’s headquarters building. How many physical bodies work in the current building ?? With todays electronic communications technology the staff could be scattered all over D.C. I get the feeling that King Jerome thinks he and his staff are a lot more inportant to the taxpayers than they really are, in fact many people even wonder why we need a central bank at all. After all it is NOT a government entity. It is a private business unaccountable to the U.S. Constitution meaning is should NOT even exist at all.
Mark
July 19, 2025 at 12:25 am
No, the Federal Reserve is a public institution established by Congress, whose 7-member governing board — including the chairman — is appointed by the President for 14-year terms. It is not a “private business”.
Mark
July 19, 2025 at 12:19 am
Sounds like Trump and his mini-me’s are looking for some way to fire Powell, who continues to exercise independence at the Fed, exactly as the law envisions. Note that POWELL called fo r the Inspector General to investigate the escalating cost of the project.
C’mon, folks! You constantly screamed about Bidenomics causing rapid inflation; now you suddenly can’t understanding why the costs of the Fed’s new headquarters have risen?
Never forget that as we emerged from the pandemic, Powell and the Fed did a fabulous job executing a “soft landing” of the U.S. economy without a recession as we emerged from the pandemic.
Fletcher
July 20, 2025 at 5:44 am
He should be fired. Try again lib.
Jerry
July 19, 2025 at 6:06 pm
I’ll wait to see Rep Luna’s concerns over the cost of retrofitting the “free” Air Force One. I’m sure she’ll be the first to plea for an investigation into the overruns that will inevitably happen for that boondoggle.
Fletcher
July 20, 2025 at 5:45 am
Try again lib.