Fed watchdog clears Powell of misconduct in $2.5 billion renovation probe
The Federal Reserve's internal watchdog cleared Chair Jerome Powell of misconduct or illegal activity in the $2.5 billion renovation of the Fed's Washington, D.C., headquarters. The probe found management failures and poor oversight but no criminal wrongdoing. Former President Donald Trump, who had called the renovations "disgraceful," reiterated his call for Powell to resign.
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Watchdog finds Fed mishandled renovations that Trump used to call for Powell's ouster
A Federal Reserve watchdog investigation into costly renovations at the Fed's headquarters has concluded that while the project was mishandled, there was no misconduct or illegal activity by Fed Chair Jerome Powell. The report found management failures and poor oversight of the renovation project, which had become a political flashpoint. Former President Donald Trump had previously cited the renovations as a reason to oust Powell from his position. Following the report's release, Trump reiterated his call for Powell to resign from the Fed board, despite the watchdog clearing him of wrongdoing. The findings have been reported by multiple news outlets including The Washington Post, The New York Times, PBS, Fox Business, and the Financial Times, with varying emphasis on the mishandling versus the lack of criminal activity.
Fed watchdog clears former chair Powell in renovation probe; Trump calls for resignation
The Federal Reserve's internal watchdog has cleared former Chair Jerome Powell of any misconduct or illegal activity in connection with costly renovations at the central bank. The probe, which examined the renovation project, found no evidence of wrongdoing by Powell. Despite this clearance, former President Donald Trump has publicly stated that Powell should resign from the Fed board. The story is covered by multiple outlets including Axios, The New York Times, PBS, Fox Business, and the Financial Times, each reporting the watchdog's conclusion and the subsequent political reaction from Trump.
Read sourceFed Watchdog Finds No Misconduct in Headquarters Renovation Probe
The Federal Reserve's independent watchdog announced on Wednesday that it found no evidence of administrative misconduct and no grounds to refer anyone for criminal prosecution regarding the renovation of the central bank's headquarters. The investigation, conducted by the Fed's Office of Inspector General, examined the renovation project at the central bank's main building in Washington, D.C. The watchdog's conclusion clears the Fed of any wrongdoing in the matter, which had been under scrutiny. The statement did not provide further details on the scope or duration of the investigation, but it effectively ends any potential legal or administrative actions stemming from the renovation project.
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Fed Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
The Federal Reserve's internal watchdog has concluded its investigation into costly renovations at the Fed's headquarters, finding no evidence of misconduct or illegal activity. The report, which cleared Fed Chair Jerome Powell of wrongdoing, determined that while there were failures in the renovation process, there were no grounds for a criminal referral. The renovations, which cost $2.5 billion, had drawn intense scrutiny and criticism from former President Donald Trump, who called them 'disgraceful.' Multiple news outlets, including The New York Times, CNBC, CNN, CBS News, and NBC News, reported on the watchdog's findings, highlighting that no laws were broken and that Powell did not engage in any illegal behavior. The investigation focused on the management and oversight of the renovation project, ultimately concluding that the failures were procedural rather than criminal.
Read sourceFed watchdog finds no laws broken in $2.5 billion Fed renovations Trump called disgraceful
A Federal Reserve internal watchdog investigation has concluded that no laws were broken in the $2.5 billion renovation of the Fed's headquarters, a project that former President Donald Trump had publicly labeled as 'disgraceful.' The probe, which examined the costly renovations, also cleared former Fed Chair Jerome Powell of any misconduct or illegal activity. The findings were reported by multiple news outlets including CBS News, The New York Times, Axios, PBS, and Fox Business, all citing the watchdog's final verdict. The investigation focused on whether any laws or ethical rules were violated during the planning and execution of the extensive building upgrades. The watchdog's report determined that while the project was expensive and faced criticism, it did not involve criminal activity or ethical breaches by Powell or other Fed officials. The renovation costs had drawn significant political scrutiny, particularly from Trump, who had criticized the spending as excessive and inappropriate.
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