The earlier 120 page inspector general report found no grounds for criminal referrals but criticized the Fed for awarding more than $2 billion in construction work before obtaining a cost estimate. These management failures contributed to a total cost of approximately $2.5B, up from an initial $1B estimate. Trump previously demanded that Powell resign from the board immediately, threatening to sue him for incompetence or corruption regarding the project.
Tuesday, October 20, 2026
Story
Fed Chair Warsh Orders Audit of $2.5B Fed Headquarters
US Politics18 days ago
President Trump rejected a government report into the central bank's building costs as "lies" and announced a fresh in-depth probe into the spending. Fed Chairman Kevin Warsh has launched an independent audit of the renovation, which remains under scrutiny even though the Justice Department recently declined to reopen a criminal investigation into former Fed Chair Jerome Powell. Attorney General Todd Blanche noted that the DOJ could still investigate if the new audit reveals evidence of criminal misconduct.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.