Trump threatens to sue Powell over Fed's headquarters renovation

NEW YORK, Dec. 29 (Xinhua) -- U.S. President Donald Trump on Monday again threatened to sue Fed Chair Jerome Powell over the renovation of the Federal Reserve's headquarters.

"We're thinking about bringing a suit against Powell for incompetence," said Trump at a press conference with Israeli Prime Minister Benjamin Netanyahu in Florida.

Trump said the renovation project at the central bank's headquarters in Washington, D.C. is "gross incompetence against Powell," adding that "the guy's just incompetent. There's nothing you can do about it."

Trump previously threatened to bring a lawsuit against Powell in August. The Fed has posted an explainer on its website on the grounds for cost overruns in the project.

"He should resign. It would be a favor to the nation ... I'd love to fire him," said Trump.

Trump added that he would announce his nomination for the next Fed chair sometime in January. Powell's leadership term ends in May 2026.