Trump Considers Allowing Lawsuit Against Powell Over Fed Building Renovation
US President Donald Trump said he is considering allowing a lawsuit against Federal Reserve Chairman Jerome Powell over the central bank's headquarters renovation project, which is considered to have suffered significant cost overruns.
In a social media post, Trump again criticized Powell for his decision to keep interest rates steady and accused the Fed of "terrible and incompetent" management of the renovation project. Trump called the damage caused by Powell's policy delays "incalculable," while claiming the US economy remains strong.
Trump did not specify the lawsuit in question, but the renovation has become a flashpoint in his pressure on the Fed to cut interest rates. This move comes amid recent data showing US core inflation rose in July, raising expectations for a Fed rate cut in September. (ayu)
Source: Newsmaker.id