Federal Reserve Chair Jerome Powell has asked the central bank’s inspector general to review the ballooning costs of the ongoing renovation of the Fed’s Washington, D.C. headquarters—a project that has drawn sharp criticism from the Trump administration.
Powell requested that Inspector General Michael Horowitz examine both the $2.5 billion budget and any additional issues he deems relevant, according to people familiar with the matter. Horowitz, previously the inspector general at the Justice Department, was appointed by Powell last month. He is known for his investigation into the FBI’s handling of the 2016 Russia probe, a report that was…
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