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Fed Watchdog Clears Costly Renovations of Wrongdoing
Original: Fed's Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations https://www.nytimes.com/2026/09/30/business
The Federal Reserve's internal watchdog has concluded that no misconduct or illegal activity took place in connection with the central bank's expensive headquarters renovation project. The findings come after political scrutiny of the renovation's price tag, which had drawn criticism from the Trump administration and fed into tensions between President Trump and Fed Chair Jerome Powell over the central bank's management and independence.
Why now: The report lands amid ongoing political conflict between the Trump administration and the Federal Reserve over its spending and leadership.
Federal ReserveJerome PowellDonald Trump
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- Fed's Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations https://www.nytimes.com/2026/09/30/business/fed-renovations-trump-powell-report.html # Business # Economy # Finance · nyt_business@robot.villas · 4
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