Trump challenges Powell and threatens him with a lawsuit. “The damage he caused are unfit.”

US President Donald Trump said on Tuesday that he was considering bringing a large lawsuit against the President of the Federal Reserve Jerome Powell in connection with “incompetence” at the renovation of central bank buildings. Trump once again demanded a decrease in interest rates and called Powell a loser.

“I am considering bringing a large lawsuit against Powell because of his terrible and gross incompetent work in the construction of the construction of federal reserve buildings. Three billion dollars for the work, which should cost $ 50 million. Not good!” – Trump announced on his Truth Social social platform.

Trump has already accused Powell many times of too high the renovation of federal reserve buildings, claiming that he could carry out $ 2.5 billion. Renovation for many times less money.

The US President also demanded from the president of the central bank immediate reduction of interest rates and got to his former finance minister Steve Mnuchin for the fact that in 2017 he insisted on the election of “this loser” Powell as the boss of Fed.

“The damage he caused, being always late, are unfit. Fortunately, the economy is so well that we broke through despite Powell and a satisfied management,” wrote Trump.

The president posted his entry hours after the publication of new inflation data, which showed the second in a row price increase. The CPI rate increased in July by 0.2 percent. month to month and amounted to 2.7 percent. In the annual perspective, which was mostly coincided with the expectations of the market. Base inflation (not including food and energy prices) increased faster – by 0.3 percent.

Increase in inflation and moving away from the 2 % target set by the Fed. It can complicate the decision to lower interest rates that is expected by most economists in September.

New statistics were published a day after Trump nominated the new head of the work statistics office (BLS), conservative economist EJ Antoni in place of the dismissed Erika Mcentarfer, whom Trump unjustly accused of falsifying statistics. The nomination is associated with controversies, because Antoni is accused by critics in the field of economics of lack of competence, bias and partyness.

From Washington Oskar Górzyński (PAP)

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