The Federal Reserve’s costly renovation project will have a new manager as Fed Chair Kevin Warsh has tasked the General Services Administration (GSA) with managing the completion of the project. On Wednesday, the Fed’s Office of Inspector General released a report which found that while there was no administrative misconduct…

Mortgage rates rose to the highest level since November 2023, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 7.28% from last week’s reading of 7.03%.The average rate on a 30-year loan…

The inspector general’s investigation into the Federal Reserve’s costly renovation project determined that there was no administrative misconduct after the cost overruns prompted an investigation of former Federal Reserve Chair Jerome Powell amid criticism from President Donald Trump. The Office of Inspector General for the Federal Reserve’s Board of Governors began…