Fed watchdog clears former chair Powell in renovation probe

Fed watchdog clears former chair Powell in renovation probe

A Federal Reserve watchdog found no criminal wrongdoing by former chair Jerome Powell in its investigation of the central bank's expensive headquarters renovation, according to a report released on Wednesday. Why it matters: The findings effectively clear Powell after the Justice Department opened an unprecedented criminal investigation into then-Fed chair, which became public in January. What they're saying: "At no point during our evaluation did we find reasonable grounds to believe that a vio