(ZeroHedge)—Last week saw President Trump kinda sorta deny reported plans to fire Fed Chair Jay Powell:
“We’re not planning on doing it,” he said Wednesday at the White House.
“I don’t rule out anything,” he added, “but I think it’s highly unlikely, unless he has to leave for fraud.”
But now, that latter comment is coming into play as Rep. Anna Paulina Luna, R-Fla., refers Powell to the Department of Justice (DOJ) for criminal charges, accusing him of two specific instances of lying under oath.
Luna is accusing Powell of perjury on two occasions, according to a letter to the DOJ first obtained by Fox News Digital.
“On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims,” Luna’s letter said.
Specifically, she accused him of lying about lavish amenities at the Federal Reserve’s Eccles Building and misrepresenting its state of maintenance.
“Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance,” Luna wrote.
She claimed his statement that the cost increase was to simplify construction and avoid further delays was false.
“It is contradicted by the Federal Reserve’s final submission to the National Capital Planning Commission (NCPC) and by the assertions made in Director Vought’s own original letter to Chairman Powell,” Luna wrote.
“According to those records, the revised plan includes a VIP private dining room, premium marble finishes, modernized elevators, water features, and a roof terrace garden—features that Powell publicly denied existed. While Powell presented the changes as simplifications, the actual project plans suggest the opposite.”
Trade outlet Mortgage Professional reported that Powell denied all accusations of perjury and has directed a formal watchdog probe into renovation project costs of the Eccles Building.
She first announced she would be referring Powell last week on X.
Perjury can be punishable by up to five years in prison in addition to fines.
While Trump and his allies would clearly like to see a Fed Chair cut rates, there are unintended consequences they could be missing here. Firing and replacing Powell would make investors nervous about the stability of the Fed and its ability to deliver low and stable price inflation.
This could push longer-term interest rates up – the opposite of Trump’s goal.
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.
