Federal Reserve renovation watchdog report findings
What each leads with
CBS News ↗ — Headline and lede open with “did not violate laws,” placing legal clearance first before noting poor project management drove up costs.CBS News — Headline and lede open with “did not violate laws,” placing legal clearance first before noting poor project management drove up costs.
New York Post ↗ — Headline labels the project “mismanaged” $2.5B “Palace of Versailles” HQ work; body details cost jump from $921M, scrapped bids, and 21-month design halt.New York Post — Headline labels the project “mismanaged” $2.5B “Palace of Versailles” HQ work; body details cost jump from $921M, scrapped bids, and 21-month design halt.
Federal Reserve renovations criticized by Trump did not violate laws, watchdog finds
An independent watchdog investigating the multi-billion-dollar renovations at the Federal Reserve found that cost overruns did not violate federal law, but that poor project management dramatically increased costs. CBS News producer Richard Escobedo has more.
Fed blasted by top watchdog over ‘mismanaged’ $2.5B ‘Palace of Versailles’ HQ work
An Inspector General review detailed massive cost overruns, mismanagement and contracting failures at the Fed's DC offices.