Trump Targets Three Fed Governors Amid Renovation Scandal

U.S. President Donald Trump has new ammunition in his campaign against perceived opponents at the Federal Reserve, but any attempt to remove three governors may face significant legal hurdles.

A watchdog report released Wednesday found no basis for criminal charges stemming from the Fed's costly headquarters renovations. The report details how bureaucratic disorganization left the Fed vulnerable to overspending on a project to renovate and connect two historical federal buildings in Washington.

The report faults the Fed for failing to enforce a guaranteed maximum price for the project, among other issues. However, it acknowledges that better management 'does not necessarily mean the project's overall cost will be lower.'

Trump appears to be weighing his options for how to proceed, with the Fed scheduled to announce its latest interest-rate decision on Oct. 28, only days before the Nov. 3 midterm election.