White House Inspects Fed's $2.5B Renovation Amid $700M Cost Overruns
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最新报道：The White House is reviewing the Federal Reserve's $2.5 billion headquarters renovation project after costs ballooned by $700 million due to pandemic-related delays and design changes. The Government Accountability Office (GAO) found the Fed failed to properly assess risks or establish cost controls, with expenses now projected at $3.2 billion for the modernization of the 1970s-era building. While the Fed maintains the upgrades are necessary for security and operational needs, lawmakers have raised concerns about transparency and fiscal responsibility. The renovation, initially approved in 2015, has faced multiple setbacks including material shortages and labor disputes, with completion now expected in 2032 instead of the original 2024 target.
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