Trump: Internal Auditor Finds No Wrongdoing by Powell in Fed Building Renovations
The Inspector General has found no evidence of possible violations in the building renovation. However, other deficiencies were identified. Senator Elizabeth Warren is talking about a witch hunt.
The US Federal Reserve's internal auditor found no evidence of criminal or administrative wrongdoing in the renovation of a historic building in Washington, which had been criticized by President Donald Trump. The project has cost around $2.4 billion, exceeding the original plan by about $1 billion, with the auditor citing poor contract design as a major factor.
The report did not find that design elements, such as marble or water features, contributed significantly to the cost overrun. The new Fed Chair, Kevin Warsh, will implement recommendations on project management and appoint an independent auditor to review previous expenses. The issue is part of a long-standing conflict between Trump and former Fed Chair Jerome Powell, who has since stepped down but remains on the Fed board.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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- Trump says he asked Blanche to 'study' Fed watchdog report that cleared Powell thehill.com
- Trump renews calls for former Federal Reserve chief Jerome Powell's resignation france24.com
- Trump is demanding Powell resign from the Fed board over a $2.4 billion renovation qz.com
- Trump says Powell should be forced to resign from Fed board moneyweb.co.za
- The Fed’s building renovations and Trump’s push to oust Powell investing.com
