Trump Threatens Legal Action Against Jerome Powell as Economy Tanks

Source: The New Republic

Trump Threatens Legal Action Against Jerome Powell as Economy Tanks

Robert McCoy
Tue, August 12, 2025 at 10:13 AM EDT
2 min read

President Trump has escalated his war against Jerome Powell, threatening the Federal Reserve chair with a lawsuit in a Truth Social post Tuesday.

In the post, Trump repeated some of his typical attacks on Powell: The president echoed his ongoing demands that he slash interest rates—which the central bank has, thus far, resisted, citing the need for caution amid Trump’s wild tariff policy—and called the Fed chair “Too Late” and a “loser.”

But going further, the president wrote that he’s “considering allowing a major lawsuit against Powell to proceed” and accused Powell of doing a “horrible, and grossly incompetent, job” on a $2.5 billion renovation project underway at the Federal Reserve headquarters. Inflating that figure, Trump wrote, “Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!”

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Read more: https://www.yahoo.com/news/articles/trump-now-wants-sue-jerome-141328988.html