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Fed watchdog clears central bank in headquarters renovation review

Original: Watchdog finds no evidence of misconduct by Fed in HQ renovation

A Fed inspector general's review found no evidence of misconduct by the Federal Reserve in its costly headquarters renovation, according to Politico. The findings come after criticism from the Trump administration and allies, who had alleged the project was wastefully extravagant and cited it among reasons to challenge Fed Chair Jerome Powell. The probe's conclusion undercuts those accusations.

Why now: The renovation has been a flashpoint in the White House's public campaign against Fed Chair Jerome Powell, so the exoneration is politically charged.

Federal ReserveJerome PowellPoliticoWhite House

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• Watchdog finds no evidence of misconduct by Fed in HQ renovation · Politico

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