President Donald Trump threatened to allow a "major lawsuit" against Federal Reserve Chairman Jerome Powell to go forward. 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,

Trump is weighing a possible lawsuit against Federal Reserve Chairman Jerome Powell, White House press secretary Karoline Leavitt said at her briefing on Tuesday.

In a post on his Truth Social social-media network, Trump again urged the Fed to lower interest rates, writing: “I am … considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings.”