President Donald Trump suggested Tuesday he may allow a major lawsuit against Federal Reserve Chair Jerome Powell to proceed, citing what he called mismanagement of the Fed’s headquarters renovation.
On Truth Social, Trump blasted the project’s cost, claiming it should have been a $50 million fix, not a multibillion-dollar overhaul.
It is unclear which lawsuit Trump referenced, though Rep. Anna Paulina Luna has pushed for a criminal probe into whether Powell misled Congress about the renovation. Trump, who previously said Powell would serve until his term ends in May, now appears to be reconsidering.
🚨 BREAKING: President Trump is considering SUING Jerome Powell for the horrible and corrupt $3 BILLION “renovation” at the Federal Reserve
— Nick Sortor (@nicksortor) August 12, 2025
There should be a CRIMINAL investigation into it too! pic.twitter.com/MVM3ahojyS
Firing Powell would be legally complex, requiring "for cause" justification. If removed, Powell is expected to challenge the move in court. Trump is also weighing early announcements for a successor, with Kevin Walsh, Kevin Hassett, and Christopher Waller among top contenders.
