Trump Blasts Fed Chair Powell, Threatens Lawsuit Over “Horrible” Renovation Job
- Trump is weighing a lawsuit against Powell over rising Federal Reserve renovation costs.
- CPI July data and Trump’s remarks pushed the 10-year Treasury yield to session highs.
- Trump nominated Stephen Miran to the Federal Reserve ahead of Powell’s May term end.
President Donald Trump is now threatening a lawsuit against Federal Reserve Chair Jerome Powell, using the rising costs of the central bank’s headquarters renovation as his latest point of attack.
In a social media post on Tuesday, Trump renewed his criticism of Powell for keeping interest rates unchanged and connected the issue to the Federal Reserve renovation.
“The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board,” Trump wrote. “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.”
Trump did not clarify the details of the potential lawsuit against Powell. The White House did not respond to requests for further information.
Bond Yields …
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Trump Blasts Fed Chair Powell, Threatens Lawsuit Over “Horrible” Renovation Job
- Trump is weighing a lawsuit against Powell over rising Federal Reserve renovation costs.
- CPI July data and Trump’s remarks pushed the 10-year Treasury yield to session highs.
- Trump nominated Stephen Miran to the Federal Reserve ahead of Powell’s May term end.
President Donald Trump is now threatening a lawsuit against Federal Reserve Chair Jerome Powell, using the rising costs of the central bank’s headquarters renovation as his latest point of attack.
In a social media post on Tuesday, Trump renewed his criticism of Powell for keeping interest rates unchanged and connected the issue to the Federal Reserve renovation.
“The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board,” Trump wrote. “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.”
Trump did not clarify the details of the potential lawsuit against Powell. The White House did not respond to requests for further information.
Bond Yields …
The post Trump Blasts Fed Chair Powell, Threatens Lawsuit Over “Horrible” Renovation Job appeared first on Coin Edition.
Read More
Trump Removal of BLS Commissioner Prompts Questions About Accuracy of Economic Stats