✉news BusinessBanking first seen 17 h ago, last 14 h ago, peak #12
Fed watchdog clears Powell-era renovation spending of wrongdoing
Original: US Fed watchdog finds no criminal wrongdoing in Powell-era renovation costs
An internal watchdog at the US Federal Reserve has concluded there was no criminal wrongdoing in the cost overruns tied to the headquarters renovation carried out during Jerome Powell's tenure as Fed chair. The review puts to rest allegations that the expensive building project involved misconduct. The findings may ease political pressure over the project, though criticism of the renovation's cost is likely to continue.
Why now: The watchdog's findings resolve a politically charged controversy over the Fed chair's headquarters renovation.
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