President Donald Trump said Tuesday he is considering allowing a “major lawsuit” to proceed against Federal Reserve Chair Jerome Powell, alleging “horrible and grossly incompetent” oversight of the central bank’s headquarters renovation in Washington. Trump claimed the project’s cost has swelled to about $3 billion and argued that the work should have been completed for roughly $50 million. Fed documents reviewed by Reuters show the budget now stands near $2.4 billion, up from an original $1.9 billion, with the central bank citing higher labor and materials costs as well as asbestos removal. White House press secretary Karoline Leavitt confirmed the president is weighing legal action but offered no timeline or details. A Federal Reserve spokesperson declined to comment. The lawsuit threat intensifies Trump’s broader campaign to pressure the Fed for immediate interest-rate cuts. The president has repeatedly criticized Powell for acting “too late” on monetary policy and said the economic damage from elevated borrowing costs is “incalculable.”