Trump Threatens Lawsuit Against Fed Chair Powell Over $2.5B Renovation

President Donald Trump has criticized Federal Reserve Chairman Jerome Powell for his handling of interest rates and the management of a costly renovation project at the Fed's headquarters. Trump accused Powell of incompetence, claiming the renovation costs ballooned to $2.5-$3 billion, a figure he argues should have been around $50 million. He has threatened to allow a major lawsuit against Powell to proceed in response to this perceived mismanagement. Trump also called for immediate interest rate cuts, describing Powell as 'Too Late' in his monetary policy decisions, which Trump alleges have caused incalculable damage to the economy. Despite Trump's legal threats and public criticism, experts suggest such legal action is unlikely to impact the Federal Reserve's operations or independence. Meanwhile, the renovation costs have been attributed by the Fed to necessary preservation and modernization efforts, including compliance with safety and accessibility codes amid inflationary pressures.