The House Financial Services Committee is preparing to launch an inquiry into the renovations at the Federal Reserve headquarters, which have ballooned from $1.9 billion to $2.5 billion.

Rep. Dan Meuser, R-Pa., who chairs the Financial Services Subcommittee on Oversight and Investigations, told Punchbowl News on Wednesday night that he was preparing a letter for the Federal Reserve that will ask for “added information” about the renovations.

Financial Services Committee spokesperson Brooke Nethercott confirmed to Newsmax that Meuser sent the letter. “The Committee is committed to getting answers to better understanding the Federal Reserve’s building renovations,” she said.

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