Aug. 12 (UPI) -- U.S. President Donald Trump on Tuesday threatened a "major" lawsuit aimed at Federal Reserve Chair Jerome Powell over planned renovations to the central bank's headquarters.

Trump said he was considering legal action against Powell in a Truth Social post, citing the "horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings."

Trump said the price tag for the renovations, which he said exceeded $3 billion was far more than what was needed for what he claimed was a job "that should have been a $50 million dollar fix up."

"Not good!" Trump wrote.

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