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.”

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.

U.S. President Donald Trump is considering a lawsuit against Federal Reserve Chair Jerome Powell related to his management of renovations at the Fed's Washington headquarters, White House spokeswoman Karoline Leavitt said on Tuesday.