✉news BusinessBanking first seen 11 h ago, last 1 h ago, peak #4
Fed watchdog finds no misconduct in $2.5 billion headquarters overhaul
Original: Breaking News: The Federal Reserve’s independent watchdog found no misconduct associated with the central bank’s nearly $2.5 billion project to overhaul its headquarters in Washington, D.C.
The Federal Reserve's independent inspector general has concluded there was no misconduct connected to the central bank's roughly $2.5 billion renovation of its Washington, D.C. headquarters. The finding closes out scrutiny of a project that had drawn criticism over its cost and scope, and will likely be cited by Fed officials as vindication amid earlier political attacks on the renovation's price tag.
Why now: The watchdog's conclusion settles a controversy that had been used to criticize Fed leadership, prompting fresh discussion of the project.
Federal ReserveFederal Reserve Office of Inspector GeneralWashington, D.C.
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