s/cdixonFED OVERSIGHT•3h
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Watchdog finds Fed renovation failures, but no criminal wrongdoing
The Federal Reserve renovation drew a sharp watchdog finding without the criminal case Trump is citing against Jerome Powell. The inspector general found significant governance and oversight failures on the project, but no evidence of criminal wrongdoing or grounds for a criminal referral.
Trump is still demanding that Powell resign from the Fed Board or face a lawsuit by the U.S. government, with Attorney General Todd Blanche reviewing the matter. The renovation reached roughly $2.3 billion, more than $1 billion above initial projections.
Trump is still demanding that Powell resign from the Fed Board or face a lawsuit by the U.S. government, with Attorney General Todd Blanche reviewing the matter. The renovation reached roughly $2.3 billion, more than $1 billion above initial projections.
Timeline2
10h
The Federal Reserve's independent watchdog reported no misconduct associated with the nearly $2.5 billion headquarters renovation.
8h
Trump called on Jerome Powell to resign immediately or face a lawsuit by the highest levels of the U.S. government.
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3h