Watchdog finds Fed mishandled renovations that Trump tried to oust Powell over - The Washington Post

Fed’s Watchdog Finds No Misconduct in Costly Renovations, Clears Former Chair Powell

The Federal Reserve’s independent watchdog has concluded that the agency’s recent renovation projects were mishandled but did not involve misconduct or illegal activity. The report, released by the Fed’s Office of Inspector General, found no criminal wrongdoing and no grounds for a criminal referral.

Multiple news outlets reported the findings. The Washington Post noted that the investigation uncovered no misconduct or illegal activity in the costly renovations. The New York Times echoed that the watchdog found no criminal wrongdoing. Yahoo, Axios, Fox Business, CNBC, and Bloomberg all reported that the former Fed chair Jerome Powell was cleared in the renovation probe.

Key Findings

• No misconduct or illegal activity identified in the renovation projects.
• No criminal wrongdoing found by the Fed’s watchdog.
• There were no grounds for a criminal referral related to the renovations.
• Former Fed chair Jerome Powell was cleared in the investigation.

The report also highlighted that former President Donald Trump had attempted to oust Powell over the renovation controversy, but the watchdog’s findings did not support any allegations of wrongdoing.