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Trump cites 'major lawsuit' against Fed's Powell, again urges rate cut

Kitco Media
By Reuters
Published:
Updated:
Reuters
Trump cites 'major lawsuit' against Fed's Powell, again urges rate cut teaser image

WASHINGTON, Aug 12 (Reuters) - U.S. President Donald Trump on Tuesday reiterated his call for the U.S. Federal Reserve to lower benchmark rates, and cited "a major lawsuit" against Fed Chair Jerome Powell over renovations of the central bank's buildings.

"Jerome 'Too Late' Powell must NOW lower the rate," Trump wrote on his social media platform. "I am, though, 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."

Reporting by Ryan Patrick Jones; writing by Susan Heavey; Editing by Chizu Nomiyama

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