US president has pressured Powell to lower interest rates and criticised him for the Federal Reserve’s renovation costs.
United States President Donald Trump has suggested that Federal Reserve Chief Jerome Powell could face a lawsuit over renovation costs for the central bank’s nearly century-old headquarters.
The threat, issued on Tuesday in a post on Truth Social, is the latest salvo in Trump’s ongoing pressure campaign against the central bank leader.
The two have clashed over interest rates: Trump has pushed for aggressive cuts, while Powell has maintained the bank will make a decision based on financial indicators, not political pressure.
“Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump wrote in Tuesday’s message. “I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings.”
