Federal Reserve watchdog finds no criminal violations for building renovation cost overruns

An internal watchdog said the Federal Reserve mismanaged costs associated with a $2.4bn renovation of its Washington DC headquarters, but noted that no criminal violations occurred, according to a report released on Wednesday.

For over a year, Donald Trump has centered his attacks against the Fed and former chair Jerome Powell around the renovations, including a months-long Department of Justice criminal investigation that was dropped in April.