Fed Hands HQ Renovation to GSA Amid Scrutiny

The Federal Reserve has handed over management of its Washington D.C. headquarters renovation to the General Services Administration (GSA) after an Inspector General report revealed managerial shortcomings.

The project, which has suffered from cost overruns and long delays, was previously investigated by the Trump administration.

GSA Administrator Edward C. Forst stated that his agency 'fully supports Chairman Kevin Warsh's efforts to bring greater accountability, cost discipline, and effective project management' to the renovation work.