The Federal Reserve should abandon billion-dollar headquarters renovations

How issuers manage money supply, inflation, and interest rates. These rules make or break a currency's credibility as a store of value.

A September 30, 2026, report by the Federal Reserve inspector general found no reasonable grounds to believe Jerome Powell or other officials violated criminal law in the headquarters renovation. It found cost overruns and inadequate contract execution and project governance while identifying no administrative misconduct.