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-setting Federal Open Market Committee (FOMC) of doing “incalculable” damage to the economy by not lowering interest rates.
Trump and his top economic advisers have repeatedly pushed the Fed to reduce its benchmark federal funds rate from its current range of 4.25–4.50 percent. The president has argued for rates of 0.25–1.75 percent, similar to those in countries such as Japan and Switzerland, to spur growth and reduce federal borrowing costs….
Trump Threatens Allowing ‘Major Lawsuit’ Against Fed Chair Powell Over Central Bank Renovation
