Trump requests Powell reduction rates now, Fed Fed Building Renovation Law straps

President Donald Trump increased his pressure on Tuesday on the president of the federal reserve Jerome Powell to reduce interest rates, threatening to authorize legal action on the renovation project of $ 3.1 billion from the Central Bank to move forward.

Trump went to Truth Social to explode Powell, who refused to adjust the rates despite repeated requests from the president while inflation remains stable, holding 2.7% in July.

“Jérôme” Too late “Powell must now reduce the rate,” Trump wrote on his social truth.

President Donald Trump presents the president of the federal reserve Jerome Powell with what Trump called a list of cost surpassions for the renovation project of the $ 2.5 billion in the federal reserve on July 24, 2025, in Washington, DC (SOMODEVILLA / GETTY Images)

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“Steve ‘Manouychin’ really gave me a” beauty “when he pushed this loser. The damage he caused while still being too late is countless. Fortunately, the economy is so good that we have exploded Powell and the complacent board.”

Trump then lost the prospect of legal action, although it is not clear to which trial to which Trump was referring to.

“I am, however, considering authorizing a major legal action against Powell to do because of the horrible and roughly incompetent work that he has accomplished in the management of the construction of the Fed buildings. Three billion dollars for a work that should have been a corrective of $ 50 million. Not good!”

Comments are Trump’s last public attack on Powell despite the name of the president of the Federal Reserve in 2017. A Fed spokesman refused to comment.

Powell and the Fed previously defended the current renovations, stressing that these are necessary structural updates and not luxuries. (Photo of Win McNamee / Getty Images)

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The renovation of the federal reserve focuses on two historic buildings in Washington, DC: The Marriner S. Eccles Federal Reserve Building and the adjacent structure of the 1951 Constitution avenue, also known as the building FRB-East.

Powell and the Fed previously defended the current renovations, stressing that these are the necessary structural updates and not luxury, and are in full compliance with the plans approved by the National Capital Planning Commission in 2021. Powell and Trump visited the site last month.

In a social article of truth on Sunday, Trump criticized the costs of the redesign.

“We are not going to allow people to spend 3.1 billion dollars to repair a building, such as the federal reserve, which could have been done in a much more elegant and sensitive way for 50 to 100 million dollars,” wrote Trump. “The renovation would have been better and would have saved $ 3 billion, traffic jams and endless construction.”

Earlier this month, Trump urged the Governors’ Council of the Federal Reserve to take control of Powell if he resisted immediate interest rate reductions. The Fed has held its reference interest rate between 4.25% to 4.5%, which, according to Trump, stifles American economic growth.

THE Federal reserve Collectively determines its interest rate policy through a panel of 12 members known as the Federal Open Market Committee (FOMC), which votes on these decisions with each member – including Powell – receiving a vote.

President Donald Trump speaks with journalists from James Brady Press’s news room in the White House on Monday, August 11, 2025. Trump increased his pressure on the president of the federal reserve on Tuesday, Jerome Powell, to reduce interest rates, threatening to allow legal action on the renovation project of $ 3.1 billion in the central bank of $ 3.1 billion. (AP photo / Alex Brandon)

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The FOMC should not meet before September 17 to 18, which means that an emergency meeting would be the only way to reduce rates in advance.

Last month, representative Anna Paulina Luna, R-Fla., Powell referred to the Ministry of Justice (DOJ) for criminal accusations, accusing him of lying on the sumptuous convenience of the ECCLE construction of the Federal Reserve and distortion of her state of maintenance.

Greg Wehner of Fox News, Eric Revell and Rachel Wolf contributed to this report.