Trump says he asked Blanche to ‘study’ Fed watchdog report that cleared Powell
The watchdog found no criminal referral but cited major management failures and about $1 billion in cost overruns.
- On Wednesday, President Trump directed Attorney General Todd Blanche to 'study the report, and make a determination as to what to do' regarding the Federal Reserve's roughly $1 billion renovation overruns, though the Inspector General found no criminal wrongdoing.
- Tensions escalated following the Inspector General's report release, as Trump continued his campaign to oust former Fed Chair Jerome Powell over monetary policy disputes dating back to 2018.
- The 120-page report detailed management failures including a $346 million payment for plumbing and air conditioning—triple initial estimates. Yet the Inspector General noted 'at no point during our evaluation did we find reasonable grounds' for criminal charges.
- Trump wrote on Truth Social that Powell should resign or 'be sued, at the highest level, by the United States Government, for either corruption or incompetence.' Senator Elizabeth Warren countered the findings showed 'no basis to restart the president's witch hunt.'
- Fed Chairman Kevin Warsh, who succeeded Powell in May, will hire an independent auditor to 'verify accuracy and compliance' of project costs, signaling institutional commitment to address the oversight failures identified in the report.
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6 Articles
‘Jerome should be forced to resign’: Trump wants Powell out despite Fed watchdog clearing him | What was the allegation?
President Trump has urged former Fed Chair Powell to resign over the $2.4 billion renovation of the Fed's headquarters, despite an inspector general report finding no criminal wrongdoing. Management failures and rising costs have sparked controversy around the project and its oversight.
The former boss of the U.S. Federal Reserve, Jerome Powell, is Donald Trump's black beast, who he accused daily of wanting to scuttle his economic policy.
Trump Asked Blanche to Review Fed Watchdog Report That Cleared Powell
Trump renews calls for former Federal Reserve chief Jerome Powell's resignation
The Federal Reserve's watchdog on Wednesday found no grounds for a criminal referral over a roughly $1 billion cost overrun on renovations to the central bank's Washington buildings, while faulting project…
US President Donald Trump said that former Federal Reserve Chairman Jerome Powell should be forced to leave the central bank's board, despite an investigation into a $2.5 billion renovation project finding no evidence of criminal conduct, the Financial Times reports.
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