Fed’s Watchdog Finds No Criminal Violations in Renovations | Balance of Power
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Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF (http://bit.ly/3vTiACF). The Federal Reserve’s internal watchdog found no evidence of criminal wrongdoing in the central bank’s renovation of its Washington headquarters, a $2.4 billion project that became a flashpoint between the Fed and the Trump administration as the president pushed for lower interest rates last year. The findings came in a report released Wednesday by the Office of Inspector General that identified a series of missteps that led to surging costs for the renovation from an initially budgeted $1.3 billion in 2020. “At no point during our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred requiring a referral to the US Attorney General in accordance with the Inspector General Act,” the OIG said. “Further, while our report outlines deficiencies in the management of the renovation project,
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