✉news BusinessBanking first seen 1 d ago, last 1 h ago, peak #6
Fed watchdog clears Powell in renovation probe
Original: Fed watchdog clears former chair Powell in renovation probe
The Federal Reserve's internal watchdog has cleared Jerome Powell over the investigation into the costly renovation of the Fed's Washington headquarters, according to Axios. The probe examined whether the central bank chair misled officials about the scope of the project. The finding removes a point of political pressure on Powell as debate over his leadership and Fed independence continues in Washington.
Why now: The renovation probe has been a flashpoint in political fights over the Fed, so the clearance is timely news.
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