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Federal Reserve general inspector report found some renovation design elements—marble finishes, water features and a rooftop garden terrace—did not materially add to functionality and drove cost overruns.

2026-10-01

Federal Reserve general inspector report found some renovation design elements—marble finishes, water features and a rooftop garden terrace—did not materially add to functionality and drove cost overruns.

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2026-09-30

WuXi AppTec (02359.HK) rose 3.5%, hitting a record high, and has risen more than 120% year-to-date.

WuXi AppTec (02359.HK) rose 3.5%, hitting a record high, and has risen more than 120% year-to-date.
2026-10-01

President Trump said a Federal Reserve inspector general report found "project management deficiencies" in the Fed’s Washington DC headquarters renovation and accused the project of severe cost overruns. Trump cited the report saying final costs will

President Trump said a Federal Reserve inspector general report found "project management deficiencies" in the Fed’s Washington DC headquarters renovation and accused the project of severe cost overruns. Trump cited the report saying final costs will be at least $2.5 billion and could rise to $3.5–4.0 billion, and said the project has already exceeded the budget by several hundred million dollars. The report, Trump said, shows the Federal Reserve Board did not receive a construction manager cost estimate until January 2026 — roughly 3½ years after work began — despite the award of more than $2 billion in construction contracts. As of July 2026, more than four years into construction, the Fed had not set a guaranteed maximum price, leaving the final cost undetermined and risk unattributed to the construction manager, the report found. Trump asked Attorney General Todd Blanch to review the report and decide next steps, and renewed his call for Fed Chair Powell to resign, saying the government should consider legal action if Powell refuses.
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