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,

U.S. President Donald Trump offered a veiled threat on Tuesday of a "major" lawsuit aimed at Federal Reserve Chair Jerome Powell in Trump's ongoing dispute over renovations of the central bank.

In a post on his Truth Social social-media network, Trump again urged the Fed to lower interest rates, writing: “I am … considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings.”