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Recently, the United States Attorney’s Office for the District of Columbia (USAO-DC) opened a criminal investigation into Jerome Powell, chairman of the Federal Reserve, over the much higher-than-expected costs of renovating the central bank’s headquarters.
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From the Daily Caller:
The investigation centers around the skyrocketing costs for the renovation of Federal Reserve headquarters, which greatly exceeded previous estimates of $2.5 billion. Powell confirmed the probe in a statement released Sunday.
“On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June,” Powell said in a statement. “That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.”
USAO-DC told the Daily Caller News Foundation that it does not comment on ongoing investigations.
Representative Anna Paulina Luna reportedly referred Powell to the DOJ in July. She cited testimony he gave before the Senate in June, accusing him of perjury. The Representative announced the move on X at the time, highlighting Powell’s “crazy $2.5BN building.”
I am criminally referring Jerome Powell to the DOJ to investigate perjury regarding his crazy $2.5BN building.
— Rep. Anna Paulina Luna (@RepLuna) July 17, 2025
President Trump also raised questions about the renovations during a tour last July of the Federal Reserve headquarters. The President presented Powell with documents showing the cost of renovations had ballooned to $3.1 billion, showing a cost overrun of roughly 25%.
This is yet another way in which the Trump administration is bringing truth and justice. Let’s ask the Lord to guide the DOJ as it investigates the federal reserve.
What do you think of this investigation? Share your prayers for truth and justice blow.
(Excerpt from the Daily Caller. Photo Credit: Federalreserve – DSC_7883)