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Fed Watchdog Clears Costly Headquarters Renovations of Misconduct
Original: Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
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 renovations. The findings come after scrutiny of the project's rising costs, which had drawn criticism from lawmakers and the public. Supporters of the review say it confirms the project followed proper procedures, while critics continue to question the scale of spending on the buildings.
Why now: The expensive Fed renovation project has faced political and public criticism, making the inspector general's finding newsworthy.
Federal ReserveFederal Reserve Inspector GeneralNew York Times
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- Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations · The New York Times
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