Florida Representative Anna Paulina Luna addressed the ongoing controversy surrounding Federal Reserve Chair Jerome Powell, emphasizing that her criminal referral to the Department of Justice (DOJ) was grounded in facts rather than politics. The statement comes in response to Powell’s public remarks on January 11, 2026, where he described the DOJ’s actions as an attempt to exert political pressure on the Fed’s monetary policy decisions.
Luna’s post read: “My criminal referral for Jerome Powell to the DOJ was not political. Any efforts to politicize this is a distraction from simple facts: Powell lied to Congress and should be held accountable as anyone else would be. No one is above the law.” This directly counters Powell’s assertion that the investigation stems from the Fed’s independence in setting interest rates, rather than any misconduct in his congressional testimony.
The referral originated from Luna’s office on July 19, 2025, when she formally requested that Attorney General Pam Bondi investigate Powell for potential perjury and false statements. According to a press release from Luna’s congressional office, the referral details how Powell allegedly “knowingly misled both Congress and executive branch officials” during his June 25, 2025, testimony before the Senate Banking Committee. The testimony involved a multi-year project to renovate the Federal Reserve’s historic office buildings, estimated at $2.5 billion, with discrepancies noted between Powell’s statements and official documents regarding luxury features and project specifics. The release includes a link to the full referral letter sent to the Attorney General.
Powell’s statement, issued the day before Luna’s post, provides his perspective on the DOJ’s grand jury subpoenas served on January 9, 2026, which threaten criminal indictment. In it, Powell states: “This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress’s oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
Powell further explains the broader implications, saying: “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.” He highlights his service under four administrations, both Republican and Democratic, and reaffirms his commitment to the Fed’s mandate of price stability and maximum employment, vowing to continue his duties “with integrity and a commitment to serving the American people.”
Luna’s referral, which she maintains is based solely on the accuracy of Powell’s testimony, ultimately led to the DOJ’s formal criminal investigation announced in January 2026.
