✉news BusinessBanking first seen 5 h ago, last 14 min ago, peak #26
Federal Reserve approves $2 billion renovation without fixed price
Original: Fed awarded $2B on renovation without a guaranteed price
The Federal Reserve has awarded a $2 billion contract for renovating its headquarters without a guaranteed, fixed price, according to reporting by The Center Square. The arrangement means taxpayers could be exposed to cost overruns, and the decision is drawing criticism over oversight and spending priorities at the central bank.
Why now: Concern over government spending and the lack of a fixed-price guarantee in a multibillion-dollar contract is driving discussion.
Federal ReserveThe Center Square
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Evidence
- Fed awarded $2B on renovation without a guaranteed price · The Center Square
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