By Neil Roland ( September 30, 2026, 20:58 GMT | Insight) -- Cost overruns in the US Federal Reserve’s headquarters renovations stemmed from bureaucratic mismanagement rather than criminal or administrative misconduct by then-Chair Jerome Powell, a Fed inspector general report found, undermining allegations by President Donald Trump. “At no point during our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred requiring a referral to the US Attorney General in accordance with the Inspector General Act,” the watchdog reported. “Further, while our report outlines deficiencies in the management of the renovation project, resulting in our recommended corrective actions in accordance with the Inspector General Act, we did not identify administrative misconduct during our evaluation.”Cost overruns in the US Federal Reserve’s headquarters renovations stemmed from bureaucratic mismanagement rather than criminal or administrative misconduct by then-Chair Jerome Powell, a Fed inspector general report found, undermining allegations by President Donald Trump....
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