Editor's PiCK

US House Republican Lawmaker Files Criminal Complaint Against Fed Chair Jerome Powell for 'Perjury'

Source
JH Kim

Summary

  • A US House Republican lawmaker has reportedly filed a criminal complaint against Fed Chair Jerome Powell for perjury.
  • Powell is accused of making false statements regarding the cost increase for the Eccles building renovation.
  • The complaint is attracting market attention, as it coincides with calls by conservatives to remove the Fed Chair before his term ends.

Anna Paulina Luna, a close associate of former US President Donald Trump and a Republican member of the US House of Representatives from Florida, has filed a criminal complaint with the US Department of Justice (DOJ) against Jerome Powell, Chair of the Federal Reserve (Fed). The charge is 'perjury,' alleging that Powell gave false testimony during a congressional hearing.

According to Fox News on the 21st (local time), Congresswoman Luna claims that Powell made two false statements during a Senate Banking, Housing, and Urban Affairs Committee hearing on June 25 regarding the renovation of the Fed headquarters at the Eccles building.

Luna stated, "Powell explained that the reason for the cost of the Fed headquarters renovation increasing from $1.9 billion to $2.5 billion was due to 'minor changes,'" adding, "A congressional investigation revealed that luxury facilities such as upscale restaurants, marble finishes, and rooftop gardens were included."

She also pointed out that Powell's claim, via official documents, that the changes were 'measures to simplify construction and prevent delays' conflicted with the actual materials submitted by the Fed.

Luna emphasized that all these statements constitute perjury, which can carry a sentence of up to five years in prison. This complaint comes as pressure mounts within conservative circles to remove Powell from his position before the end of his term.

Meanwhile, Powell has denied all allegations and has officially requested an audit of the Eccles building renovation costs.

The Fed is currently providing a video explanation and summary of the project on its website.

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JH Kim

reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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