&imwidth=800&imheight=600&format=webp&quality=medium "Renovation of central bank buildings: Trump renews call for Powell's resignation amid watchdog's report")
After the Federal Reserve's Inspector General on Wednesday said it found no grounds for a criminal referral or evidence of administrative misconduct related to cost overruns in a US central bank renovation project, President Donald Trump again renewed call for former Federal Reserve chief Jerome Powell's resignation.
"At a minimum, 'Too Late' Powell should be forced to resign from the Board. He can’t manage a Building, and he certainly shouldn’t be allowed to manage his High Interest Rate Policy (only on “TRUMP!”)," wrote Trump on Truth Social.
However, the Fed watchdog in its report pointed towards extensive problems with project oversight that led to the cost of the renovation of the central bank's two historic buildings on the National Mall in Washington increase by about $1 billion.
The report noted "at no point during our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred requiring a referral to the US attorney general."
"Further, while our report outlines deficiencies in the management of the renovation project, resulting in our recommendation of corrective actions in accordance with the Inspector General Act, we did not identify administrative misconduct during our evaluation," it added.
Trending Stories
)
US vs China over South China Sea: Washington backs Philippines, Beijing hits back
)
Bigg Boss 20: Isha Rikhi evicted after three weeks in Salman Khan’s show
)
Musk plans to more than double xAI's chips to over 1.2 million Nvidia GPUs by year-end
)
After JU, clash erupts at SRFTI: BJP’s ‘Dimagi Naxal’ jibe sparks political firestorm after students protest RSS-linked event
)
‘Anti-social elements spreading false rumours’: LPU issues statement amid massive unrest over alleged rape
)
LPU students go on rampage, vandalise campus amid widespread protest: What's happening
)
Trump asked Xi to pressure Iran. China did not say yes — here’s what Beijing wants
)
US Treasury Secretary Scott Bessent hails global crackdown on Iranian banks and airlines
)
An OpenAI agent escaped its locked test cage again, by hiding questions in DNS lookups
)
'Our video was trimmed': LPU girls who featured in rape-denial video make U-turn
)
3 males killed, four others injured in shooting after fight at strip club in Detroit
)
'Victory for low-budget consumers': Raghav Chadha hails 30-day telecom recharge rules
)
Claude rebuilt the 1989 game 'Prince of Persia' by reusing the original's own code
)
Beyond metros: How Tier-2 and Tier-3 cities could drive India’s next AI wave
)
Tesla builds first Cybertruck with its own refined lithium: Elon Musk's $1 billion Texas bet pays off
)
IndiGo flight suffers tail strike in Bengaluru while landing; DGCA to probe incident
)
The US and China set up an AI 'red telephone', but skipped the rulebook
)
‘Terror suspects arrested near UK air base were looking to do big damage’: Trump
)
Russian envoy claims US tactics to contain India were revealed in ‘Freudian slip’
)
IND vs WI 1st ODI: Kohli breaks Sachin's most runs in one country record with unbeaten 139 as India thump West Indies by 8 wickets
)
Researchers rebuilt exactly how 700 AI agents hacked Hugging Face: a 900-link chain trick
)
‘Olympic inclusion is our major target’: WPA President Ishaun Singh on pool’s global ambitions
)
Nations League: Spain sink England at Wembley; Modric shines for Croatia
)
Why has Iran released no proof of life of Mojtaba Khamenei? Araghchi reveals...
)
'What kind of confession is this?': Pakistan PM Shehbaz Sharif’s 'terrorists would be roaming New York' remark goes viral, raises alarm online. Watch
)
South Korea demands apology from Ukraine over North Korean prisoners' transfer
)
Beyond BrahMos: India targets Rs 50,000 crore in defence exports with unmatched price edge
)
Sri Lankan Tamil migrant worker gets death sentence in Saudi Arabia, help sought from India
)
Muslim marriage cannot shield sex with minor wife from prosecution under POCSO: Delhi HC
)
'Can't help but draw painful parallels to Nirbhaya case': SC on latest incidents of rape cases in Delhi-NCR
)
99.9% more powerful - Scientists find boy who can recall memories from just 3 months of age
)
'FIRST LOOK from inside Noah’s Ark': Researchers share video from inside mysterious mound in Turkey
)
UNSC reform momentum grows: Russia, Portugal, Mauritius push for India's permanent seat bid
)
8 US marines injured in Iranian missile attack on vessel in Strait of Hormuz: Report
&im=FitAndFill=(700,400))
New OTT releases this week (September 28-October 4, 2026): Dupahiya 2, Pooja Meri Jaan, Ohh My Dog- 5 titles coming on Netflix, Prime Video and more
)
Afghanistan says 28 fighters killed in clash near Pakistan border, Islamabad denies
)
Ceuta migrant crisis: Protesters take to streets as Spain grapples with migrant challenge
)
LPU suspend classes, postpones exams as violence escalates over rape claims: What's happening
)
New York City wants a 'kill switch' on every AI, and will pay whistleblowers who report violations
The ongoing feud between Trump and Powell goes back to 2018, when the president first criticised the Fed chief for not cutting interest rates. Powell was nominated by Trump for the top Fed job in late 2017.
And in his effort to ouster Powell and gain control over the direction of monetary policy, Trump latched onto the cost overrun on the project, which now has a price tag of about $2.4 billion.
Powell declined to comment on the report of Federal Reserve's Inspector General.
