Economist Judy Shelton, a former advisor to President Donald Trump during his first term and senior fellow at the Independent Institute, delivered a sweeping critique of the Federal Reserve on Monday.

Republican Rep. Anna Paulina Luna of Florida sent a letter to Attorney General Pam Bondi calling for an investigation into Federal Reserve Chairman Jerome Powell for "potential perjury and making false statements" -- calling into question testimony Powell delivered on June 25 at the Senate Banking Committee.

Trump wants to replace Jerome Powell with a Fed chair who will do what he wants. But that still may not produce the steep cuts Wall Street is counting on.

Fed staff told reporters that it would have been less expensive to just build a new building rather than restore the two historic properties.