Fed watchdog clears Powell in renovation probe — SkimNews
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- Federal Reserve watchdog found no criminal wrongdoing by former chair Jerome Powell in its investigation of the central bank's expensive headquarters renovation, releasing the report on Wednesday.
- Justice Department had opened an investigation into the costly headquarters project, prompting the watchdog probe.
- Trump responded to the watchdog's clearance by saying Powell should resign, per the Financial Times headline.
- The findings effectively clear Powell of misconduct related to the renovation during his tenure as Fed chair.
Why it matters: The watchdog's clearance removes the misconduct finding over Powell's handling of the renovation, yet Trump's call for resignation — reported by the FT — shows the political fight over Fed leadership continues independently of the institutional review, underscoring that legal clearance does not end political pressure on the central bank.
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