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The Wall Street JournalThe Wall Street Journal

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The Wall Street JournalThe Wall Street Journal

Why Does Renovating the Fed Cost $2.5 Billion? Asbestos, Height Limits, Lead

By Nick Timiraos, Nicole Friedman and Nancy Keates
  • The Fed's headquarters renovation, previously budgeted at $1.9 billion, surged to $2.5 billion due to complications.
  • Groundwater, asbestos, toxic soil and materials costs drove up expenses, delaying the project’s completion.
  • The cost overruns have drawn criticism from officials, including Trump, who question the Fed’s financial independence.
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The New York TimesThe New York Times

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