The president revived his disagreement over a $2.5 billion upgrade at the Fed’s headquarters, which he said has been mismanaged.
President Donald Trump and Federal Reserve Chair Jerome Powell tour the Federal Reserve’s $2.5 billion headquarters renovation project in Washington on July 24, 2025. Chip Somodevilla/Getty Images
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President Donald Trump on Monday renewed his threat to file a lawsuit against Federal Reserve Chair Jerome Powell for what he describes as “gross incompetence” due to Powell’s alleged management of renovations at the Fed’s Washington headquarters.
Trump also told reporters that he plans to unveil his pick for Powell’s successor at some point in January. Powell’s term ends in May.
Kimberly Hayek is a reporter for The Epoch Times. She covers California news and has worked as an editor and on scene at the U.S.-Mexico border during the 2018 migrant caravan crisis.
