Overview

• Luna’s letter to the Justice Department alleges Powell lied under oath twice during his June 25 testimony before the Senate Banking Committee.
• The referral accuses Powell of downplaying a $600 million cost overrun by describing changes from $1.9 billion to $2.5 billion as minor in correspondence with OMB Director Russell Vought.
• Congressional records cited by Luna point to a VIP dining room, premium marble finishes, water features and a roof-terrace garden that Powell said did not exist.
• Powell has rejected the perjury accusations and ordered the Fed’s internal watchdog to probe the Eccles Building renovation costs.
• The DOJ has not yet acted on the referral and Trump allies are renewing calls for Powell’s removal before his term ends in mid-2026.