What started as a heated debate over government spending has now turned into a war of words between a Republican lawmaker and a well-known TV host.
At the heart of the issue? The soaring costs of a Federal Reserve building renovation—and the person being blamed for it, Fed Chairman Jerome Powell.
Anna Paulina Luna Goes All In on Powell
Florida Congresswoman Anna Paulina Luna isn’t backing down.
Earlier this week, she filed a criminal referral to the Department of Justice, accusing Powell of lying to Congress.
Her allegation centers around what she calls misleading testimony about a massive remodeling project at the Federal Reserve’s Washington headquarters.
The renovation, which was initially approved in 2017, was projected to cost $1.9 billion.
That figure has since exploded to $2.5 billion—drawing sharp criticism from Luna, who says someone needs to be held accountable for the nearly $700 million increase.
Fox Business Host Pushes Back
But not everyone agrees with Luna’s approach.
Fox Business veteran Stuart Varney took a swipe at the Congresswoman’s decision to go the legal route.
On his show, he said Luna was setting a dangerous new precedent by pushing for criminal charges over what he called a “monetary policy” disagreement.
“Lying to Congress is a criminal offense,” Varney acknowledged.
“But if this is just a dispute over monetary policy, and you can’t win the argument, is the next move really to charge your opponent with corruption?”
He compared Luna’s move to “lawfare” tactics used against former President Donald Trump, suggesting it crossed a line.
Luna Fires Back on Social Media
Luna didn’t waste any time clapping back. She took to X (formerly Twitter) to call Varney out, saying he clearly hadn’t read her criminal referral before speaking about it on air.
“Apparently, Varney is telepathic and knows how I think—and also thinks $700 million in mismanaged funds is no big deal? Wild take,” she posted. “You should retract your statement.”
The Allegations: Misleading Testimony and Lavish Upgrades
Luna claims Powell committed perjury not once, but twice, during his congressional testimony about the headquarters renovation.
She accuses him of misrepresenting the progress and cost of the project, and of hiding just how luxurious the updates really are at the Marriner S. Eccles building.
Perjury, if proven, can carry up to five years in prison and hefty fines. And Luna isn’t the only one raising questions.
The White House and the Push for Accountability
Russell Vought, the Director of the Office of Management and Budget, has also stepped in.
He sent a letter to Powell questioning his testimony and even hinting at a possible firing “for cause.”
Vought slammed the remodeling as “ostentatious” and unnecessary in scale.
Powell, however, defended the upgrades.
He said both buildings needed major overhauls, including asbestos removal, structural fixes, and the replacement of outdated systems like plumbing, HVAC, and fire detection.
Trump Looms Large Over the Dispute
Former President Trump’s name also looms in the background.
After a recent sit-down with Trump, Luna hinted on X that the former president may soon fire Powell—though no such move has happened yet.
Trump has a long history of publicly criticizing Powell, even giving him the nickname “Too Late” for not slashing interest rates fast enough during his term.
While Trump has threatened to remove him before, no president has ever fired a Fed chair—and Powell’s current term doesn’t end until mid-2026.
Powell Sticks to His Strategy
As for Powell, he continues to hold firm on interest rates.
While Trump pushes for lower borrowing costs, Powell says it’s smarter to remain cautious.
He argues that a stable rate environment is better for consumers and helps ease global financial tensions—especially in the face of Trump’s proposed tariffs.
A Political Drama Still Unfolding
This dust-up between Luna, Powell, Varney, and even Trump is still unfolding.
What began as a dispute over a costly renovation has now turned into a broader fight over accountability, government transparency, and political power plays—with no clear resolution in sight.