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Fed watchdog clears Powell in renovation review despite problems found
Original: Watchdog finds problems but no Fed misconduct in Powell-era renovation project
A Fed inspector general reviewed the central bank's headquarters renovation overseen under Chair Jerome Powell and found management and oversight problems, but concluded there was no misconduct by Powell or Fed officials. The findings close out scrutiny of the costly project, which had drawn criticism and accusations of extravagance from political opponents of the Fed chair.
Why now: The Fed's expensive headquarters renovation has been a political flashpoint, so an official watchdog ruling on Powell's conduct draws immediate attention.
Federal ReserveJerome PowellFederal Reserve Inspector General
Evidence
- Watchdog finds problems but no Fed misconduct in Powell-era renovation project · Tacoma News Tribune
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