Published • loading... • Updated
Trump says he asked Blanche to ‘study’ Fed watchdog report that cleared Powell
The watchdog found no criminal referral was warranted, but it cited management failures and about $1 billion in cost overruns on the renovation.
- 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.
Insights by Ground AI
Podcasts & Opinions
45 Articles
45 Articles
Coverage Details
Total News Sources45
Leaning Left7Leaning Right9Center10Last UpdatedBias Distribution38% Center
Bias Distribution
- 38% of the sources are Center
38% Center
L 27%
C 38%
R 35%
Factuality
To view factuality data please Upgrade to Premium
