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Fed Watchdog Releases Audit of Headquarters Building Cost Overruns
Original: Fed Watchdog Releases Long-Awaited Audit of Building Cost Overruns
The Federal Reserve's inspector general has published a long-delayed audit examining cost overruns on the central bank's headquarters renovation, a project whose rising price tag has drawn criticism from lawmakers. The report is expected to detail how spending climbed well beyond initial estimates and what oversight failures contributed to the increases.
Why now: The release ends months of anticipation over findings on a renovation project that has been a flashpoint for criticism of the Fed's spending.
Federal ReserveInspector General
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