Trump Considers the Possibility of Suing Federal Reserve Chairman Powell

• Trump is considering the possibility of suing Powell due to the Federal Reserve's restructuring.
• The president criticizes the spending on the Federal Reserve building, deeming it excessive.
• The lawsuit may be related to accusations against Powell in false testimonies.

Main Information

President Donald Trump expressed his intention to consider the possibility of filing a "substantial lawsuit" against Federal Reserve Chairman Jerome Powell due to issues related to the restructuring of the Fed's headquarters in Washington. Trump indicated that he considers Powell's work in this area "horrific" and "grossly incompetent."

In his post on the social media platform Truth Social, Trump wrote that "he is considering the possibility of filing a lawsuit" against Powell. He believes that the restructuring of the Fed's building could cost up to 50 million dollars, but actual expenditures significantly exceeded that amount, which became a target for criticism.

It is not yet entirely clear what specific lawsuit is being discussed. It is possible that it is related to a criminal investigation supported by Republican Anna Paulina Luna, accusing Powell of introducing legislation under the guise of testimony in court regarding plans for the restructuring.

Additional Information

Recently, Trump stated that allowing Powell to remain in office until the end of his term in June would be appropriate. However, now the president is once again contemplating the possibility of his dismissal, which is a legal complex process. Members of the Fed board can only be dismissed "for cause."

If Trump decides to dismiss Powell, he may intend to contest this decision in court, and the matter could reach the U.S. Supreme Court. Trump also hinted about the intention to appoint his aide Steven Mnuchin to a new position in the Fed's leadership.

Tags: USA/Politics