✉news BusinessBanking first seen 14 h ago, last 14 h ago, peak #36
Watchdog finds mismanagement but no crime in Fed renovation
Original: No criminal wrongdoing in Federal Reserve building renovation, watchdog says, but it was mismanaged
A Federal Reserve inspector general's review has concluded that the central bank's headquarters renovation in Washington was mismanaged, but found no evidence of criminal wrongdoing. The findings settle questions raised over cost overruns and oversight of the high-profile building project, with the watchdog faulting management practices while clearing officials of illegal conduct.
Why now: The costly Federal Reserve headquarters renovation has drawn political scrutiny, and the watchdog's finding of mismanagement without criminality is newly newsworthy.
Evidence
- No criminal wrongdoing in Federal Reserve building renovation, watchdog says, but it was mismanaged · 10TV
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