Fed Watchdog Clears Powell Over Renovation Costs

The Federal Reserve's inspector general cleared former Chair Jerome Powell of criminal wrongdoing over the mismanaged headquarters renovation, which saw roughly $1 billion in cost overruns. The report cited weak cost controls but found no grounds for a criminal referral. President Trump has since ca

What is established so far

• Inspector general found no criminal violations in Fed renovation costs
• Report highlighted weak cost controls leading to ~$1B overrun
• Trump demands Powell’s resignation despite clearance
• DOJ confirms it will not reopen criminal probe