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.
