President Trump is now threatening to sue Jerome Powell over his grossly over-budget Federal Reserve renovation.
While speaking to reporters during a press conference at Mar-a-Lago, President Trump said he is considering a lawsuit for Powell’s “incompetence” over the multi-billion dollar project.
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🚨 BOOM! President Trump is threatening a LAWSUIT against Federal Reserve Chair Jerome Powell because of his gross incompetence and multi-billion dollar Fed renovation
TRUMP: "Think of it…these are small buildings. $4 billion or more! It's the highest price of construction per… pic.twitter.com/SJ1Z6oJkJz
— Eric Daugherty (@EricLDaugh) December 30, 2025
BOOM! President Trump is threatening a LAWSUIT against Federal Reserve Chair Jerome Powell because of his gross incompetence and multi-billion dollar Fed renovation
TRUMP: “Think of it…these are small buildings. $4 billion or more! It’s the highest price of construction per square foot in the HISTORY OF THE WORLD!”
JEROME SHOULD RESIGN! Do the country a favor.
According to President Trump, the Federal Reserve project is now estimated to cost around $4 billion.
That’s more than double the original budget of $1.9 billion.
Fox Business dove deeper into the exact numbers:
The project was initially estimated to cost $1.9 billion in 2019, though the estimated cost rose to nearly $2.5 billion as of 2025 due to “significant increases” in the cost of wood, steel, cement and other construction materials, as well as the cost of remediating asbestos and lead from the building, according to a report by The Wall Street Journal.
ADVERTISEMENTIn August, the president and several of his allies who have joined in criticizing Powell over both the renovation and monetary policy amid a concerted push to get the Federal Reserve to cut interest rates received a tour of the renovations from Powell himself.
During a tense exchange in front of the press, Trump claimed the renovation project cost $3.1 billion and handed Powell a document including that information. Powell noted that the figure included the renovation of the McChesney Martin building, which was completed years ago and reopened in 2021.
It’s unclear where the president derived the “more than $4 billion” figure he cited.
What a waste of billions of dollars of taxpayer money.
This whole thing is just so ridiculous.
Audit the Fed — or, better yet, dismantle it!
Powell’s there to protect the system and to squeeze every last drop out of it that he can before its dismantled. 1913 coming full swing
— Matthew Scarboro (@therealSCARBOR0) December 30, 2025
Luckily, Powell won’t be at the Federal Reserve much longer.
His term is up in May, and President Trump told reporters that he is going to announce Powell’s replacement in January.
Market Watch reported:
President Donald Trump on Monday said he’s looking at next month for the announcement of a candidate to replace Federal Reserve Chair Jerome Powell and revived a threat to sue over renovations at the central bank’s headquarters.
“January, sometime,” Trump said in response to a question about timing for his pick for a new leader of the Fed. The president and Israeli Prime Minister Benjamin Netanyahu were meeting at Trump’s Mar-a-Lago estate in Florida, and the remarks came at a news conference.
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