Rep. Anna Paulina Luna, R-Fla., a Republican and close ally of former President Donald Trump, has referred Federal Reserve Chair Jerome Powell to the Department of Justice (DOJ) for criminal charges. In a letter obtained by Fox News Digital, Luna accused Powell of perjury on two specific instances, alleging that he lied under oath. This referral has reignited debates over the integrity of Powell’s leadership, particularly as conservative critics, including Trump’s allies, push for his resignation. Powell, who was appointed by Trump in 2018, now faces heightened scrutiny amid mounting pressures from the political right. The allegations are part of a broader trend of conservative actions against members of the Federal Reserve, reflecting dissatisfaction with the institution’s policies and perceived lack of accountability.
Luna’s referral highlights the ongoing tensions within the political landscape regarding the Federal Reserve’s role in U.S. economic policy. Conservative lawmakers have long criticized the central bank for its perceived bias and lack of transparency, particularly in response to inflationary pressures and interest rate decisions. The accusation of perjury adds another layer to these criticisms, suggesting that Powell may have violated his legal obligations. This has led to calls for more oversight of the Federal Reserve, with some Republicans arguing that the current framework needs to be reformed to ensure greater accountability and alignment with conservative economic priorities. As the DOJ reviews the referral, the case could have significant implications for the future of monetary policy and the power dynamics within Washington.
The timing of Luna’s referral also coincides with other political developments, including continued pressure on the Trump administration for its policies and actions in various sectors. While the focus here is on the Federal Reserve, the broader context of political pressure on economic institutions underscores the complex interplay between policy and politics in the United States. As the DOJ investigates the allegations, the outcome could influence not only Powell’s tenure but also the political climate surrounding the Federal Reserve in the coming months. The allegations serve as a reminder of the potential for legal and political action to shape the direction of economic policy, even in the face of institutional resistance.