Trump threatens to sue Fed Chair Jerome Powell for 'gross incompetence'

President Donald Trump verbally attacked Federal Reserve Chairman Jerome Powell again Monday, teasing a possible lawsuit against the man for "gross incompetence."

Trump has attacked the chairman many times this year for his decisions regarding the country's interest rates, and has pushed to remove Powell from office. However, courts and experts have warned that he cannot fire Powell without sufficient cause, which typically refers to severe misconduct or negligence, not policy disagreements and personal opinions. 

The president hinted that the lawsuit would be connected to the increasing cost of renovations to Federal Reserve buildings, stating that the chairman has allowed the expected cost to skyrocket.

“We’re thinking about bringing a suit against Powell for incompetence," the president said at a press briefing. "Because think of it, these aren’t outstanding buildings. These are small buildings. It’s gross incompetence against Powell ... The guy’s just incompetent. There’s nothing you can do about it.”

Trump did not state how much the lawsuit would seek or when he expected to file it. 

The president also repeated his claim that he would fire Powell if he could and stated that the chairman should resign before the end of his term in May. Powell has rejected the calls to resign.

“He should resign. It would be a favor to the nation,” Trump said. “I would fire him. I’d love to fire him. But we’re so close, you know. But maybe I still might."

The president is expected to name Powell's replacement in the coming weeks. 

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.