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Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
30 Sept 2026, 17:15 UTC · 4 independent sources
🚨 FED WATCHDOG FINDS MISMANAGEMENT, NO CRIMINAL VIOLATIONS
The Federal Reserve’s internal watchdog said the agency broadly mismanaged its building renovation project.
The Fed’s inspector general said missteps by its board of governors inflated the cost.
Construction costs for two central bank facilities rose from $921 million in February 2020 to $2.018 billion by December 2024.
Source: The Guardian, The Independent #FederalReserve #buildingrenovation #costoverruns
Sources
- The Guardian
Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
- The Independent
No criminal wrongdoing in $2.5Bn Federal building renovation but it was mismanaged, watchdog finds
- CNBC
Fed watchdog finds renovation failures, but no grounds for criminal referral
- aol.com
Watchdog finds no criminality in Fed renovation that drew Trump's scrutiny
