Trump considers ‘major lawsuit' against Powell over renovations, again urges rate cut
Trump, in a social media post on Tuesday, resumed his criticism of the Fed chair over the central bank's decision to hold interest rates steady and again hammered Powell over the renovation work.
'The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we've blown through Powell and the complacent Board,' Trump said. '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.'
Trump did not specify which lawsuit he was referring to in his post.
Trump has repeatedly lashed out at Powell this year over the Fed's decisions to keep interest rates steady since its last cut in December.
Renovation work continues at the US Federal Reserve building. Photo: AFP
Policymakers have been cautiously monitoring the effects of Trump's wide-ranging tariffs on the world's biggest economy, as they mulled the right time to lower rates further.
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