- Trump weighs legal action over Fed renovation costs.
- Lawsuit considers $3.1 billion spending excessive.
- Fed and Powell remain silent on the threat.
President Donald Trump is contemplating a lawsuit against Federal Reserve Chair Jerome Powell over a $3.1 billion headquarters renovation and Powell’s interest rate decisions, as revealed on Truth Social.
The potential lawsuit could escalate tensions between government and Fed, yet shows no immediate impact on cryptocurrency or traditional financial markets.
President Trump announced consideration to allow a lawsuit against Federal Reserve Chair Jerome Powell. This decision follows Trump’s criticism of the Fed’s $3.1 billion headquarters renovation plan. Trump asserts the spending is excessive and mismanaged.
In a statement on Truth Social, Trump labeled Powell “Too Late” for interest rate decisions and criticized his management of the renovation project. Trump claims the renovation should have cost $50 million.
The Legal Action Consideration
The potential legal action against Powell has drawn attention but no immediate shifts in the financial, crypto, or political landscapes. Fed’s renovation controversy involves a substantial $3.1 billion fund, accused by Trump of being incompetently handled.
Despite the public threat, markets and major crypto assets like BTC and ETH have shown no significant changes. As of now, major DeFi platforms or institutions have not reported movements in response to Trump’s statements.
Response and Market Impact
Jerome Powell and the Federal Reserve have not issued public comments regarding Trump’s lawsuit considerations. The $3.1 billion project oversight remains under scrutiny. At present, no on-chain data indicates any influence on crypto markets.
“Jerome ‘Too Late’ Powell must NOW lower the rate. … 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. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!” — Fox News
Criticism of the Federal Reserve by presidents is not unprecedented. However, threats of legal action against the Fed Chair are rare and could create uncertainty. Historically, policy changes, not rhetoric, affect market or protocol stability.
