Powell Responds to Federal Reserve Building Renovation Issue

BlockBeats News, July 18th, Federal Reserve Chairman Powell responded to the White House Budget Director's inquiry about the renovation of the Federal Reserve building, stating that the Federal Reserve Board considers transparency to be of utmost importance. Since 2017, review work has been ongoing, and the Inspector General is also reviewing the building renovation project. The cooperation with the National Capital Planning Commission has been constructive and robust, and this effort has been voluntarily driven by the Federal Reserve. Project changes since approval by the U.S. National Capital Planning Commission (NCPC) have only involved streamlining and simplifying the construction content, without introducing any new elements, thus requiring no further review. The project is large in scale, involving significant structural repairs, security system and other system upgrades, as well as the removal of asbestos and lead contamination. (Golden Finance)