The Guardian · US news · Original story
Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
Trump criticized $2.4bn rehab amid attempts to pressure then Fed chair Jerome Powell into lowering interest rates
An internal watchdog said the Federal Reserve mismanaged costs associated with a $2.4bn renovation of its Washington DC headquarters, but noted that no criminal violations occurred, according to a report released on Wednesday.
For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Department of Justice criminal investigation that was dropped in April.
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Lauren Aratani in New York · Wed, Sep 30, 2026, 10:49 AM
US news | The Guardian
Trump criticized $2.4bn rehab amid attempts to pressure then Fed chair Jerome Powell into lowering interest rates
An internal watchdog said the Federal Reserve mismanaged costs associated with a $2.4bn renovation of its Washington DC headquarters, but noted that no criminal violations occurred, according to a report released on Wednesday.
For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Department of Justice criminal investigation that was dropped in April.
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