Former US president Donald Trump has renewed his threat to sue Jerome Powell, the chair of the Federal Reserve, accusing him of what he described as gross incompetence over the management of renovation work at the central bank’s headquarters in Washington.
Speaking to reporters in Florida on Monday, Trump said he was considering legal action against Powell, criticizing his handling of the refurbishment project and suggesting it reflected serious mismanagement at the top of the US central bank.
Trump also said he plans to announce his preferred candidate for the role of Federal Reserve chair in January, signaling renewed pressure on the institution’s leadership and independence.
Powell’s current term as chair of the Federal Reserve is due to expire in May 2026. He has faced repeated public criticism from Trump in recent years, particularly over interest rate policy and the central bank’s approach to inflation and economic growth.
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