President Donald Trump on 12 August renewed his public campaign against Federal Reserve Chair Jerome Powell, writing on Truth Social that Powell "must now lower the rate." Trump, who has frequently complained that the central bank has been slow to cut borrowing costs, referred to the Fed chief as "Jerome ‘Too Late’ Powell" and blamed former Treasury Secretary Steven Mnuchin for endorsing Powell’s appointment. Trump added that he is "considering allowing a major lawsuit against Powell" to move forward, accusing the Fed chair of "horrible and grossly incompetent" management of a Federal Reserve building project. According to the president, the renovation carries a price tag of about $3 billion, a figure he said should have been closer to $50 million. The threat of legal action marks an escalation in the long-running clash between the White House and the independent central bank. While presidents have regularly criticized monetary policy, an attempt to sue a sitting Fed chair would be unprecedented and could further strain relations ahead of the Fed’s next policy meeting.