U.S. President Donald Trump speaks next to Federal Reserve Chair Jerome Powell during a tour of the Federal Reserve Board building, which is currently undergoing renovations, in Washington, D.C., U.S., July 24, 2025.
Kent Nishimura | Reuters
President Donald Trump on Tuesday threatened to allow a “major lawsuit” against Federal Reserve Chairman Jerome Powell to go forward, dramatically escalating his efforts to pressure the central bank leader to immediately lower interest rates.
The president said on Truth Social that the lawsuit would relate to Powell’s management of major renovations at the Fed’s headquarters in Washington, D.C., which has become one of Trump’s prime targets of criticism.
Trump’s post attacking Powell did not make clear whether such a lawsuit was in the works. The White House did not immediately respond to CNBC’s request for comment.
“Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump wrote in the post.
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