Trump ties Powell lawsuit threat to interest rate fight
The post Trump ties Powell lawsuit threat to interest rate fight appeared on BitcoinEthereumNews.com. Donald Trump has begun preparing his “major lawsuit” against Federal Reserve Chair Jerome Powell, accusing the Fed chair once again of grossly mismanaging the costly renovation of the Fed’s headquarters in Washington. In a Truth Social post on Tuesday, the president said the legal action would be tied directly to what he described as out-of-control spending on the historic buildings. Trump’s statement came through his Truth Social account on Tuesday, where he also repeated his demand for immediate interest rate cuts. Trump alleged that Powell’s leadership had turned what should have been a $50 million refurbishment into a $3 billion construction project. He labeled Powell “Too Late,” claiming that the chair’s slow actions had caused “incalculable” damage. Trump also took a swipe at his own former Treasury Secretary, Steven Mnuchin, saying, “Steve ‘Manouychin’ really gave me a beauty when he pushed this loser,” referencing Powell’s 2017 nomination. Trump ties lawsuit threat to interest rate fight The lawsuit threat is the latest move in Trump’s long-running campaign to pressure Powell into cutting rates. “Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump posted, adding that lowering rates by several points would save the U.S. large amounts of money and ease upcoming debt obligations. The Federal Reserve has refused to change its stance on rates this year. Rates have stayed steady throughout 2025, following multiple cuts in 2024, the final year of Joe Biden’s presidency. In testimony before Congress in July, Powell said the Fed would have already eased policy this year if not for Trump’s tariff policies, which he argued were influencing economic conditions. Trump has been pressing Powell since the start of the year, insisting that rate cuts are overdue. His frustrations spilled into public view last month during a visit to the Fed’s construction site. Trump told Powell…
The post Trump ties Powell lawsuit threat to interest rate fight appeared on BitcoinEthereumNews.com.
Donald Trump has begun preparing his “major lawsuit” against Federal Reserve Chair Jerome Powell, accusing the Fed chair once again of grossly mismanaging the costly renovation of the Fed’s headquarters in Washington. In a Truth Social post on Tuesday, the president said the legal action would be tied directly to what he described as out-of-control spending on the historic buildings. Trump’s statement came through his Truth Social account on Tuesday, where he also repeated his demand for immediate interest rate cuts. Trump alleged that Powell’s leadership had turned what should have been a $50 million refurbishment into a $3 billion construction project. He labeled Powell “Too Late,” claiming that the chair’s slow actions had caused “incalculable” damage. Trump also took a swipe at his own former Treasury Secretary, Steven Mnuchin, saying, “Steve ‘Manouychin’ really gave me a beauty when he pushed this loser,” referencing Powell’s 2017 nomination. Trump ties lawsuit threat to interest rate fight The lawsuit threat is the latest move in Trump’s long-running campaign to pressure Powell into cutting rates. “Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump posted, adding that lowering rates by several points would save the U.S. large amounts of money and ease upcoming debt obligations. The Federal Reserve has refused to change its stance on rates this year. Rates have stayed steady throughout 2025, following multiple cuts in 2024, the final year of Joe Biden’s presidency. In testimony before Congress in July, Powell said the Fed would have already eased policy this year if not for Trump’s tariff policies, which he argued were influencing economic conditions. Trump has been pressing Powell since the start of the year, insisting that rate cuts are overdue. His frustrations spilled into public view last month during a visit to the Fed’s construction site. Trump told Powell…
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