US EditionTrump Threatens Powell with 'Major Lawsuit,' Blames Mnuchin for Pushing 'Loser'
Trump accuses Fed Chair Jerome Powell of gross mismanagement as renovation costs exceed $3 billion, far above the original $50 million estimate, and threatens legal action.
- On August 11, 2025, President Donald Trump threatened a major lawsuit against Federal Reserve Chairman Jerome Powell over renovation costs in Washington, D.C.
- The renovation project, initially budgeted at USD 1.9 billion, is now projected to cost about USD 2.5 billion, according to Fed documents.
- President Donald Trump wrote on Truth Social, '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.'
- However, legal experts point out that under the Federal Reserve Act of 1913, Powell’s tenure remains protected until May 2026, limiting any immediate removal attempt.
- The Federal Open Market Committee has kept its benchmark rate steady at 4.25%-4.5% since December 2024, with the next meeting scheduled for August 26-27, 2025.
37 Articles
37 Articles
U.S. President Donald Trump threatened Tuesday to allow an "important demand" against Fed President Jerome Powell, with whom he is unhappy to refuse to lower the fees and the cost of the institution's renovation. Trump is increasingly impatient with the influential monetary institution and has repeatedly insulted Powell, whom he himself appointed to office during his first term (2017-2021). He asks Fed governors to dismiss him. In July he inspec…
Trump Rips Fed Chair Powell As "Grossly Incompetent," Building A Basement In A River
President’s remarks from the Kennedy Center focus on mismanagement of a multi-billion-dollar project, including a basement built near the Potomac River. President Donald Trump escalated his public dispute with Federal Reserve Chair Jerome Powell on Wednesday, moving beyond threats of a lawsuit to deliver a detailed, and at times colorful, critique of the central bank’s […] Trump Rips Fed Chair Powell As “Grossly Incompetent,” Building A Basement…
Trump threatens lawsuit against Fed chair Powell over costly renovations
President Trump threatened a lawsuit against Federal Reserve Chairman Jerome Powell over costly Washington headquarters renovations, alleging mismanagement and inflated costs, while continuing to pressure the central bank to cut interest rates in 2025.
Donald Trump once again threatened Jerome Powell, president of the Federal Reserve, by referring for the first time to possible legal proceedings against him. A rise in the ranks of tensions, which immediately weighed on the US bond market.
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