President Trump is upping the ante against Federal Reserve Chairman Jerome Powell, whose next stop could be in a courtroom.
AS TGP readers know, Powell has stubbornly held interest rates steady for months despite plummeting inflation numbers, claiming the tariffs will possibly reverse the trend. As a result, Americans are having great difficulty affording homes.
On Tuesday, the latest inflation numbers came in. Once again, Powell was proven a fool as inflation held steady at 2.7% in July, shy of the 2.8% Wall Street expected.
Upon seeing the data, Trump attacked the Federal Reserve Chair while ripping former Treasury Secretary Steve Mnuchin for recommending him in the first place.
“Jerome ‘Too Late’ Powell must NOW lower the rate,” Trump stated. “Steve Manouychin really gave me a ‘beauty’ when he pushed this loser.”
“The damage he has done by always being Too Late is incalculable, the president added. “Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board.”
Trump then wrote that he was considering a “major lawsuit” against Powell, citing his corrupt $3 billion-plus renovation of a construction project at the Federal Reserve.
“I am, though, 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. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!”
As The Gateway Pundit reported, Powell has been criminally referred to the Justice Department for prosecution.
Last month, GOP Rep. Anna Paulina Luna said she would be criminally referring Jerome Powell over the renovation insanity.
“On June 25, 2025, Chairman Powell provided testimony under oath before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Federal Reserve’s Eccles Building. In his statements, he made several materially false claims,” Luna’s letter said, according to Fox News.
Rep. Luna said Powell was lying about the cost of the renovations.
“Separately, in a letter to the Office of Management and Budget (OMB) Director Russell Vought, Chairman Powell characterized the changes that escalated the cost of the project from $1.9 billion to $2.5 billion as minor. However, documents reviewed by congressional investigators indicate that the scope and cost overruns of this project were neither minor in nature nor in substance,” Luna wrote.
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