Fed watchdog clears former chair Powell in renovation probe

A Federal Reserve watchdog found no criminal wrongdoing by former chair Jerome Powell in its investigation of the central bank's expensive headquarters renovation, according to a report released on Wednesday.Why it matters: The findings effectively clear Powell after the Justice Department opened an unprecedented criminal investigation into then-Fed chair, which became public in January.What they're saying: "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 U.S. Attorney General," the Of