Fed Renovation Cleared Of Crimes
A watchdog faulted the Fed's $2.5B HQ overhaul but found no criminal violations.
6 left11 center5 right
Updated 4:58pm ETEvery side, every morning
A free recap of the day’s biggest stories and how each side covered them.
What happened
The Federal Reserve’s inspector general found no reasonable grounds to refer anyone for criminal prosecution over its headquarters renovation. The watchdog also found no administrative misconduct, but said the Fed board and staff mismanaged the project and repeatedly broke cost-control rules. The renovation became a political flashpoint as President Donald Trump pressed the Fed to cut rates and attacked Chair Jerome Powell’s competence and honesty. Trump said Powell should resign or face a federal lawsuit, and asked Attorney General Todd Blanche to review the report. Powell’s allies called the probe a pretext to pressure rate policy. The watchdog issued seven recommendations, and the Fed said the project remains due in 2027.
How each side covered it
From the left
Coverage on the left emphasized Powell’s vindication and the blow to Trump’s attacks. CNN said the report undercut claims that Powell had been criminally negligent. The Guardian also tied the renovation fight to Trump’s broader pressure campaign on the Fed over interest rates. CNN framed Trump’s response as an undeterred escalation, including renewed demands that Powell resign or face government action.
From the right
Coverage framed the renovation as severe Fed mismanagement while also noting the legal clearance. The New York Post cast the project as a badly mismanaged, over-budget luxury-style headquarters renovation and treated the watchdog report as clearing Powell and the Fed of wrongdoing. Just the News framed Trump’s resignation demand as a renewed case for forcing Powell out, tying the delayed headquarters project to interest-rate policy.
Headlines
Left6
Federal Reserve watchdog finds no criminal violations for building renovation cost overruns
US Fed watchdog finds no criminal wrongdoing in Powell-era renovation costs
Trump uncorks fiery tirade after watchdog clears Jerome Powell's name: 'Unheard of!'
Fed Clears Jerome Powell Of Trump’s “Fraud” Claims- Watchdog eviscerates Trump's claim that nemesis botched massive project
Center11
Fed watchdog finds renovation failures, but no grounds for criminal referral
Watchdog finds no criminality in Fed renovation that drew Trump’s scrutiny
Fed watchdog finds no crimes in $2.4B building renovation, only mismanagement
Fed Mismanaged Building Renovation but Broke No Rules, Watchdog Finds
Fed watchdog finds no laws broken in $2.5 billion Fed renovations Trump has called "disgraceful"
Right5
Internal Watchdog Says Federal Reserve’s Renovation Was Mismanaged But Found No Criminal Wrongdoing in $2.5 Billion Boondoggle – Trump Responds, Targets Jerome Powell * The Gateway Pundit * by Cristina Laila
The final verdict is in for the Fed's troubled renovation and Jerome Powell
IG report finds no misconduct around Fed building renovation
Trump demands Jerome Powell resign over delayed Fed HQ project
Also today
All of today's stories →- 1Jack Smith Defends ProbesBalancedBalanced80articles
- 2Trump Nears AI CzarBalancedBalanced40articles
- 3Trump Launches America.govBalancedBalanced32articles
- 4Balanced31articles
- 5OpenAI Launches Dots AgentsMostly CenterMostly Center24articles
- 6Lindsay Clancy Returns To CourtBalancedBalanced24articles