The countered the, stating that, from 2023, the Council made some changes in the project to remove certain elements and did not add new ones.
“These changes aimed to simplify and accelerate the remaining construction, decrease complexity and reduce the possibility of new costs of costs and delays,” the BC said on his website. “The Federal Reserve does not consider any of these changes as justification for a further revision,” said the Fed reiterating that he is committed to continuing to work as a responsible agency in the federal government and as a good citizen in Washington, DC.
The Fed listed some of the factors that motivated the cost of the cost of the work in relation to the originally designed. In addition to changes in the original construction projects as a result of consultation with review agencies, differences have emerged over time between original estimates and actual costs of equipment and labor.
The BC also mentioned that it came across other unforeseen conditions, such as asbestos than expected, toxic contamination in the soil and water table higher than expected.
The president of the Fed, requested the Central Bank inspector-general a revision of the $ 2.5 billion renovation project from the institution’s headquarters, which became one of the main target targets of the Trump administration, a source familiar with the American news site Axios said.
Last week, Russell Voght, director of the Office of Management and Budget (OMB), published a letter that sent Powell asking for replies on the renewal, which burst the original budget of about $ 700 million.
