The inspector general of the Federal Reserve (Fed) found no reasonable grounds to believe that a violation of federal criminal law had occurred in the renovation of the central bank’s Washington buildings, and did not identify violations of board policy warranting a finding of administrative misconduct, according to CNN.
The report faulted project oversight; the renovations had a roughly $1 billion cost overrun, according to France 24, in a report with Reuters. Trump renewed his call for Jerome Powell to step down. “At a minimum, ‘Too Late’ Powell should be forced to resign from the Board. He can’t manage a Building,” he said, according to France 24. Powell stepped down as Fed chair in May; Kevin Warsh, who took over from him, said he would follow the report’s recommendations on project management.