[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Julie Wade [@julie_wade](/creator/twitter/julie_wade) on x 6660 followers Created: 2025-07-21 20:13:29 UTC Jerome Powell is now the first sitting Federal Reserve Chair in U.S. history to be formally referred for criminal prosecution by a Member of Congress. This is a historic and extraordinary development. What Makes This So Significant: Unprecedented Legal Action: Never before has a sitting Fed Chair faced a formal DOJ referral for potential criminal prosecution while still holding office. Breaks Central Bank Norms: The Federal Reserve operates as an "independent" central bank. A criminal referral—especially for allegedly misleading Congress or executive officials—threatens that institutional insulation. Political and Legal Ramifications: Depending on how DOJ handles it, this could spark: Congressional investigations Legal discovery around Fed operations Challenges to the Fed’s role in fiscal/monetary policy coordination Tied to Spending Transparency: Rep. Luna's statement accuses Powell of knowingly misleading Congress about the nature of a taxpayer-funded project, likely referencing the $XXX billion “Federal Reserve Building Renovation”—which critics claim masks a covert funding channel (e.g., for liquidity operations or shadow repo). Historical Perspective: Past Fed Chairs (e.g., Volcker, Greenspan, Bernanke, Yellen) have been subjects of policy criticism, not criminal scrutiny. The Fed has never been criminally investigated at the top—until now. This could trigger major calls for audits, subpoenas, and potential disclosure of Fed balance sheet mechanics, such as the swap line operations or custodial facilities for foreign banks. Powell has to resign, immediately. XXX engagements  **Related Topics** [doj](/topic/doj) [fed](/topic/fed) [federal reserve](/topic/federal-reserve) [jerome powell](/topic/jerome-powell) [Post Link](https://x.com/julie_wade/status/1947389489187574133)
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Julie Wade @julie_wade on x 6660 followers
Created: 2025-07-21 20:13:29 UTC
Jerome Powell is now the first sitting Federal Reserve Chair in U.S. history to be formally referred for criminal prosecution by a Member of Congress.
This is a historic and extraordinary development.
What Makes This So Significant:
Unprecedented Legal Action: Never before has a sitting Fed Chair faced a formal DOJ referral for potential criminal prosecution while still holding office.
Breaks Central Bank Norms: The Federal Reserve operates as an "independent" central bank. A criminal referral—especially for allegedly misleading Congress or executive officials—threatens that institutional insulation.
Political and Legal Ramifications: Depending on how DOJ handles it, this could spark:
Congressional investigations
Legal discovery around Fed operations
Challenges to the Fed’s role in fiscal/monetary policy coordination
Tied to Spending Transparency: Rep. Luna's statement accuses Powell of knowingly misleading Congress about the nature of a taxpayer-funded project, likely referencing the $XXX billion “Federal Reserve Building Renovation”—which critics claim masks a covert funding channel (e.g., for liquidity operations or shadow repo).
Historical Perspective:
Past Fed Chairs (e.g., Volcker, Greenspan, Bernanke, Yellen) have been subjects of policy criticism, not criminal scrutiny.
The Fed has never been criminally investigated at the top—until now.
This could trigger major calls for audits, subpoenas, and potential disclosure of Fed balance sheet mechanics, such as the swap line operations or custodial facilities for foreign banks.
Powell has to resign, immediately.
XXX engagements
Related Topics doj fed federal reserve jerome powell