The Federal Reserve's Inspector General found no grounds for criminal referral or administrative misconduct in cost overruns on a $2.4 billion renovation project, though oversight problems contributed to a roughly $1 billion overrun. The probe, prompted by President Trump's criticism, had investigated former Fed chief Jerome Powell. Powell has said he will not leave the Board until the investigation is fully resolved.
Fed Watchdog Finds No Misconduct in Powell-Era Renovation
Source: Reuters