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,

President Donald Trump said he’s looking at a “major lawsuit” against Federal Reserve Chair Jerome Powell over the agency’s over-budget remodel of its Washington headquarters, which has become a prominent attack line for Trump and his allies against Powell.

Trump on Tuesday ramped up his pressure on Jerome Powell to cut interest rates, threatening to allow a lawsuit over the central bank’s $3.1 billion renovation project to move forward.