Fed Watchdog Clears Powell in $2.5 Billion Renovation Probe
Legal·2 articles across 2 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
The Federal Reserve’s internal watchdog found no evidence of criminal wrongdoing in the central bank’s renovation of its Washington headquarters, a $2.4 billion project that became a flashpoint between the Fed and the Trump administration as the president pushed for lower interest rates last year.
While the inspector general noted 'deficiencies' in the management of the project, it concluded that the Fed failed to take 'numerous actions available to it that could have better controlled costs' but made no referrals to the U.S. attorney general.
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Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“<p>A Federal Reserve watchdog found no criminal wrongdoing by former chair Jerome Powell in its investigation of the central bank's expensive headquarters renovation, according <a”
Axios — Fed watchdog clears former chair Powell in renovation probe“The Federal Reserve’s internal watchdog found no evidence of criminal wrongdoing in the central bank’s renovation of its Washington headquarters, a $2.4 billion project that became a flashpoint”
Bloomberg — Fed’s Watchdog Finds No Evidence of Criminality in Renovations“Inspector general says central bank failed to take ‘numerous actions available to it that could have better controlled costs’”
FT — Fed watchdog finds ‘deficiencies’ but no criminal wrongdoing in $2.5bn renovation
SupportCorroborates it
“Fed watchdog found no crimes in $2 billion headquarters renovation cost overruns”
quartz — Fed watchdog found no crimes in $2 billion headquarters renovation cost overruns“The Federal Reserve’s internal watchdog says there was nothing criminal about a project to renovate the central bank's headquarters in Washington.”
Bloomberg — Fed Watchdog Finds Nothing Criminal About Renovations“A new report by the Federal Reserve’s independent inspector general concluded that a nearly $2.5 billion construction project was poorly managed but made no referrals to the U.S. attorney general.”
ny times — Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
Earlier versions
- Sep 30, 5:41 PM — Fed Finds No Evidence of Criminality in $2.4 Billion Renovation Project (4/3)