US President Trump said that he is considering allowing a "major lawsuit" against US Federal Reserve Chair Powell. This lawsuit is related to the renovation project of the Federal Reserve's headquarters, which has drawn attention due to cost overruns.
Bloomberg reported that on Tuesday (August 12), Trump posted on social media platforms, once again criticizing Powell for keeping interest rates unchanged and attacking him on the issue of the Federal Reserve's revision.
Trump wrote: "He (Powell) always acts too late, and the damage caused is incalculable."
I am considering allowing a major lawsuit against Powell because his performance in managing the renovation of the Federal Reserve building was extremely poor and incompetent.
However, Trump did not elaborate further on the details of the lawsuit. The renovation project of the Federal Reserve building has become a means for Trump to pressure Powell and the Federal Reserve and demand that the Federal Reserve cut interest rates. Last month, Trump made a rare visit to the headquarters of the Federal Reserve to inspect the construction site.
U.S. official data released on Tuesday showed that core inflation in the United States rebounded in July, but the increase in commodity prices was relatively moderate, easing concerns over price pressures caused by tariffs and raising market expectations of a rate cut by the Federal Reserve in September.
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