Trump Threatens To SUE Fed Chair In Power Grab Attempt

Donald Trump is threatening to allow a lawsuit against Federal Reserve Chairman Jerome Powell – the man he put on the job 8 years ago – to proceed as a punishment for the growing expense of the new Federal Reserve building. Trump has greatly exaggerated how much the costs have gone up for the building, falsely claiming that it has increased by $3 billion, which isn’t anywhere near the real number. The threat of a lawsuit is actually just a cover for Trump’s desire to fire Powell, as Ring of Fire’s Farron Cousins explains.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

On Tuesday of this week, Donald Trump decided to continue his war against Federal Reserve Chairman Jerome Powell, who in spite of what Trump has said recently, Trump appointed back in 2017, not Biden, Biden did not appoint this guy, but Trump did. And now Trump hates him and wants him out of office immediately. There have been rumors reports for, you know, months now that Trump wanted to fire him, but economists and experts have warned that if you do that, you're basically giving the economy a death sentence. Well, so Trump knows if I fire him, it's really gonna screw things up. So how can I force him out of the job? Well, Trump thinks he found a way to do that this week by threatening Powell with a massive lawsuit over the quote, rising costs of renovating, uh, you know, the Federal Reserve offices, which is of course running over budget, but it's not running over budget by $3 billion like Donald Trump says.

Uh, and part of the reason, by the way that this thing is running over budget is because as they're doing the renovations on the old Fed building, they're running into more asbestos than they thought. So that's costing a little bit more time and money. And also it turns out the soil underneath it was toxic. So, you know, we don't want workers to go into work and get sick and potentially die or develop horrific conditions because they're sitting above toxic soil. So yeah, remediation of all of this takes a lot of time and money, and that's the problems they're running into. It's not that, oh, we want it to be bigger Gandier, Golder. No, we want to not have people die of cancer after spending five years in our building. That seems like a reasonable expense to me. That's not something I'm gonna lose any sleepover. We need a federal reserve and we need the people who work there who to not get cancer after just a few short years. Seems reasonable. But Trump's. So Trump got on truth social and he said, I'm considering allowing a major lawsuit against Powell to proceed because of the horrible and grossly incompetent job he has done in managing the construction of the Fed buildings. $3 billion for a job that should have been a $50 million fix up, not good.

And you were in real estate. If a job does actually cost 3 billion, but the most you're willing to spend on it is 50 million. That tells us a lot about how you've run the buildings and resorts that you run. You cut corners, you know, that's really a horrible admission for you to make there, Donald, but you effectively made it. Um, and then Donald Trump explained the real reason why

He's mad at Powell because as usual, Trump won't stop talking and always digs his grave a little deeper. 'cause it has nothing to do with the cost of the Fed building. No, it's this, as Donald Trump continued, Jerome too late, Powell must now lower the rate. He is a loser. The damage he has done by always being too late is incalculable. Fortunately the economy is so good, we've blown through Powell and the complacent board. So that's what it is. You wanna allow a lawsuit against him to proceed under, you know, the most frivolous of circumstances in order to pressure him to lower the interest rate or pressure him to quit. So you can replace him probably with somebody from Project 2025 who will lower the interest rate, which will then tank the economy. And I do love the fact that Donald Trump said the economy is so, and he had multiple O'S in that. Good.

No, it's literally not. There are no good economic indicators or economic statistics or economic reports showing that anything in this country is good right now, other than the cost of gas has gone down 2.2%.