US central bank: Internal auditor finds no misconduct by Powell in Fed building renovation.
The Inspector General found no evidence of possible violations in the Fed renovation. However, other deficiencies were identified. Senator Warren is talking about a "witch hunt".
The US Federal Reserve's internal watchdog has found no evidence of wrongdoing in the costly renovation of a historic building in Washington. The General Inspector's 120-page report, released on Wednesday, said there was no reason to involve law enforcement. However, the report did identify significant shortcomings in project oversight.
The renovation's cost has ballooned to $2.4 billion, a billion dollars more than originally planned, with an initial estimate of $1.3 billion in 2020. US President Donald Trump had criticized the cost overrun, targeting then-Fed Chair Jerome Powell.
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.
