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Watchdog finds no criminal activity by Fed's Powell over renovation
Original: News Wrap: Watchdog finds no criminal activity by Powell related to Fed renovation
A watchdog review has found no criminal activity by Federal Reserve Chair Jerome Powell in connection with the central bank's headquarters renovation, according to a PBS News Wrap report. The finding relates to scrutiny of the costly Fed building project, which had drawn criticism and questions about whether Powell misled officials over its features. The conclusion removes the threat of criminal referral, though political pressure over the renovation's cost may continue.
Why now: The renovation controversy has been used by critics of Powell, so a watchdog clearing him of wrongdoing is significant news for the Fed's leadership.
Jerome PowellFederal ReservePBS
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