U.S. Representative Accuses Fed Chair Powell of Perjury
- U.S. House Representative Luna lodges perjury accusation against Fed Chair Powell.
- Allegations concern $2.5 billion Federal Reserve renovation costs.
- No immediate impact on crypto protocols or tokens reported.
The perjury allegations against Fed Chair Jerome Powell may impact Federal Reserve transparency and investor confidence.
In a bold move, U.S. Representative Anna Paulina Luna has accused Federal Reserve Chair Jerome Powell of perjury related to the Federal Reserve’s $2.5 billion renovation project. Allegations center on Powell downplaying cost overruns during testimony.
Luna referred Powell to the Department of Justice for these allegations, emphasizing inconsistencies in his statements. Powell, in response, denied wrongdoing and urged an Office of Inspector General review.
The cost increases were due to legitimate construction challenges and design adjustments…[we are] committed to being good stewards of public resources.
— Jerome Powell, Chair, Federal Reserve
The controversy could influence market confidence amid financial sector scrutiny. However, as of now, no direct impact on crypto assets such as BTC or ETH has been observed.
The issue over the renovation costs highlights potential challenges in government accountability and financial oversight. Powell argues that expenses were legitimate adjustments, not luxury indulgences.
Financial markets remain largely unaffected, but there is heightened attention on Fed policies and future impeachment outcomes. The long-term effects on economic regulation and investor sentiment require ongoing observation.
