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.
30 Articles
30 Articles
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.
Trump Threatens Allowing ‘Major Lawsuit’ Against Fed Chair Powell Over Central Bank Renovation
President Donald Trump has escalated his criticism of Federal Reserve Chair Jerome Powell, threatening to allow a “major lawsuit” against him over the central bank’s multibillion-dollar headquarters renovation—and again pressing for an immediate interest-rate cut. In an Aug. 12 post on Truth Social, Trump renewed his name-calling of the Fed chief as Jerome “Too Late” Powell, and said he “must NOW lower the rate,” accusing Powell and the rate-set…
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