Trump Asks AG to Review Report on Fed Chair's Renovation Project
US President Donald Trump has asked Attorney General Todd Blanche to review a report from the Office of Inspector General (OIG) that cleared Federal Reserve Chair Jerome Powell of any criminal wrongdoing in the central bank's renovation project.
The OIG report found no evidence of impropriety on Powell's part, but did acknowledge that the Fed had not effectively executed the construction management risk contract for the renovations.
Trump criticized Powell for failing to obtain a project cost estimate from the construction manager until January 2026, more than three years after construction began and after over $2 billion in construction costs were awarded.
The report also revealed that the initial budget for one of the renovation projects was $1.32 billion in February 2020, but ballooned to $2.38 billion by December 2024 due to changes in building designs and rising costs.