Fed watchdog finds no criminality in renovation probe
A Federal Reserve internal watchdog report found no criminal wrongdoing by Jerome Powell or other officials regarding the management of a multimillion-dollar renovation project, though it noted the project was not effectively executed.
Former Federal Reserve Chair Jerome Powell and Fed officials did not violate criminal law during their handling of the central bank’s ongoing multimillion-dollar renovation project, the Fed’s internal watchdog said in a Wednesday report. The office of Fed Inspector General Michael Horowitz acknowledged the central bank “has not effectively executed” the construction management risk contract...
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The Federal Reserve's internal watchdog cleared former Chair Jerome Powell and other officials of criminal wrongdoing regarding the management of a multimillion-dollar renovation project.
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