An internal investigation released Wednesday determined that the Federal Reserve failed to properly manage costs during the $2.4 billion rehabilitation of its Washington DC headquarters, though the inspector noted there were no criminal violations.
The audit comes at the end of a prolonged political campaign by Donald Trump against the central bank and former Fed Chair Jerome Powell. For over a year, Trump has highlighted the renovation project as part of his broader effort to pressure the Fed into lowering interest rates.
Donald Trump criticized the massive cost overruns associated with the project, which previously drew the attention of the Department of Justice. That agency conducted a criminal probe into the matter for several months before dropping the case in April.
Did anyone actually learn anything from this disaster, or is it just business as usual for the Fed?
So basically, a complete mess but no one goes to jail. Typical Washington result.