10:45 AM EDT, 07/14/2025 (MT Newswires) -- (Updates with comment from a spokesperson for the Office of the Inspector General in the last paragraph)

Federal Reserve Chair Jerome Powell has asked the central bank's inspector general to review its $2.5 billion headquarters renovation project, Axios reported Monday, citing a source.

"A referral has been made and we respectfully decline further comment," a spokesperson for the Office of the Inspector General said in an email.

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