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Watchdog Finds Fed Mismanaged Building Renovation but Broke No Rules

Original: Fed Mismanaged Building Renovation but Broke No Rules, Watchdog Finds

A federal watchdog has concluded that the Federal Reserve mismanaged the renovation of its headquarters buildings, but determined that no laws or rules were broken. The finding addresses long-running criticism from lawmakers over the cost and oversight of the project, though it stops short of attributing any legal violation to the central bank.

Why now: The watchdog report settles a controversy lawmakers have seized on over the Fed's costly headquarters renovation.

Federal ReserveFederal Reserve Inspector General

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