JEROME POWELL FACES CRIMINAL REFERRALS!

Federal Reserve Chair Jerome Powell is facing a criminal referral to the Department of Justice (DOJ) over allegations of perjury related to the renovation of the Federal Reserve's Eccles Building. The referral was made by Congresswoman Anna Paulina Luna, a Republican ally of former President Donald Trump.

Allegations Against Jerome Powell:

Perjury Claims: Luna accuses Powell of making "materially false claims" during his June 25 testimony before the Senate Banking Committee regarding the renovation project.

Luxury Features: Powell allegedly denied the inclusion of luxury features such as a VIP private dining room, premium marble finishes, modernized elevators, water features, and a rooftop terrace garden, which were later found in project documents.

Cost Increase: The renovation's cost increased from $1.9 billion to $2.5 billion, which Powell described as "minor" in a letter to the Office of Management and Budget .

Potential Consequences:

-Up to 5 Years in Prison: If convicted of perjury, Powell could face up to five years in prison and fines.

Impact on Fed's Independence: The referral raises concerns about political pressure on the Federal Reserve's leadership and autonomy.

Uncertainty Over Powell's Future: The allegations create uncertainty over Powell's future as the head of the US central bank .

Context and Related Developments:

- Trump's Criticism: President Trump has been critical of Powell's handling of interest rates and has considered removing him as Fed Chair.

-Fed's Renovation Project: The renovation project has been scrutinized over its cost and luxury features, with some lawmakers questioning its necessity .#TrumpBitcoinEmpire #BTCvsETH #NFTMarketWatch #CryptoMarket4T $BTC