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Trump blasts ‘Too Late’ Powell again, threatens lawsuit over Fed’s $3B HQ renovations

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President Donald Trump on Tuesday ramped up his pressure on Federal Reserve Chairman Jerome Powell to cut interest rates, threatening to allow a lawsuit over the central bank’s $3.1 billion renovation project to move forward.
Trump took to Truth Social to blast Powell, who has refused to adjust rates despite repeated demands by the president as inflation remains steady, holding at 2.7% in July.
«Jerome ‘Too Late’ Powell must NOW lower the rate,» Trump wrote on his Truth Social.
President Donald Trump presents Federal Reserve Chair Jerome Powell with what Trump called a list of cost overruns for the Federal Reserve’s $2.5 billion headquarters renovation project on July 24, 2025, in Washington, D.C. (Chip Somodevilla/Getty Images)
THE FED’S FOOLISH INTEREST RATE POLICY IS STOPPING AMERICA’S ECONOMY FROM BOOMING
«Steve ‘Manouychin’ really gave me a ‘beauty’ when he pushed this loser. The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board.»
Trump then went on to dangle the prospect of the legal action, although it is unclear what lawsuit Trump was referring to.
«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!»
The comments are Trump’s latest public attack against Powell despite appointing him as the Federal Reserve chair in 2017. A Fed spokesperson declined to comment.

Powell and the Fed have previously defended the ongoing renovations, emphasizing that they’re necessary structural updates and not luxuries. (Photo by Win McNamee/Getty Images)
GOOD ECONOMIC DATA IS BAD NEWS FOR TRUMP’S INTEREST RATE PUSH
The Federal Reserve’s renovation is focused on two historic buildings in Washington, D.C.: The Marriner S. Eccles Federal Reserve Building and the adjacent 1951 Constitution Avenue structure, also known as the FRB-East Building.
Powell and the Fed have previously defended the ongoing renovations, emphasizing that they’re necessary structural updates and not luxuries, and are in full compliance with plans approved by the National Capital Planning Commission in 2021. Powell and Trump toured the site last month.
In a Truth Social post on Sunday, Trump slammed the costs of the overhaul.
«We are not going to allow people to spend $3.1 Billion Dollars on fixing up a building, like the Federal Reserve, which could have been done in a far more elegant and time sensitive manner for $50 to $100 Million Dollars,» Trump wrote. «The Renovation would have actually been better, and would have saved $3 Billion Dollars, Traffic Jams and never-ending Construction.»
Earlier this month, Trump urged the Federal Reserve’s Board of Governors to take control from Powell if he resisted immediate interest rate cuts. The Fed has held its benchmark interest rate range between 4.25%-4.5%, which Trump has argued stifles American economic growth.
The Federal Reserve determines its interest rate policy collectively through a 12-member panel known as the Federal Open Market Committee (FOMC), which votes on those decisions with each member – including Powell – receiving one vote.

President Donald Trump speaks with reporters in the James Brady Press Briefing Room at the White House, Monday, Aug. 11, 2025. Trump on Tuesday ramped up his pressure on Federal Reserve Chairman Jerome Powell to cut interest rates, threatening to allow a lawsuit over the central bank’s $3.1 billion renovation project to move forward. (AP Photo/Alex Brandon)
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The FOMC isn’t scheduled to meet again until Sept. 17–18, meaning an emergency meeting would be the only way to cut rates beforehand.
Last month, Rep. Anna Paulina Luna, R-Fla., referred Powell to the Department of Justice (DOJ) for criminal charges, accusing him of lying about lavish amenities at the Federal Reserve’s Eccles Building and misrepresenting its state of maintenance.
Fox News’ Greg Wehner, Eric Revell and Rachel Wolf contributed to this report.
inflation,economy,federal courts,federal reserve
INTERNACIONAL
Brasil subastó cinco nuevos bloques petroleros en el Atlántico, a pocos días de la cumbre climática COP30

El gobierno de Brasil otorgó este miércoles los derechos de exploración de cinco bloques petroleros situados en aguas profundas del Atlántico, apenas dos días después de que la estatal Petrobras obtuviera licencia ambiental para iniciar perforaciones exploratorias marítimas cerca de la desembocadura del río Amazonas. La decisión reafirma el compromiso brasileño con la producción petrolera, una postura que genera controversia a menos de un mes de la conferencia climática COP30 de la ONU en la ciudad amazónica de Belém.
Las subastas, organizadas por la Agencia Nacional del Petróleo (ANP), se llevaron a cabo en Río de Janeiro y sumaron un total de 103,7 millones de reales (alrededor de 19,2 millones de dólares). De los siete bloques ofertados, cinco fueron adjudicados a grandes consorcios internacionales y nacionales, entre ellos la multinacional noruega Equinor y la china Cnooc. Estas áreas se localizan en el denominado presal, una reserva petrolera ubicada bajo una gruesa capa de sal en aguas ultraprofundas, donde se estima la existencia de yacimientos de alto potencial económico.
De las siete zonas ofrecidas en la subasta, las áreas de Jaspe, Citrino e Itaimbezinho fueron obtenidas respectivamente por un consorcio integrado por Petrobras (60%) y Equinor (40%), por Petrobras de forma individual, y por Equinor también de manera individual. Todas ellas se encuentran en la cuenca de Campos, frente al litoral del estado de Río de Janeiro.
En la cuenca de Santos, frente a las costas de San Pablo, la australiana Karoon se adjudicó el bloque de Esmeralda, mientras que un consorcio liderado por CNOOC (70%) y Sinopec (30%) obtuvo el área de Amatista. El resto de los bloques ofertados no atrajo el interés de las 15 empresas habilitadas para participar.
A diferencia de anteriores licitaciones, en esta ocasión no se otorgaron concesiones plenas, sino que las empresas ganadoras operarán en asociación con el Estado brasileño, que mantiene la propiedad de los derechos de exploración y producción. Para resultar seleccionadas, las compañías debieron ofrecer el mayor porcentaje de participación estatal en el excedente de producción de petróleo y gas.

La subasta formaba parte de una oferta inicial de 13 áreas, aunque las compañías solo mostraron interés por siete. De acuerdo con Artur Watt, director general de la ANP, “el mantenimiento de las actividades de exploración y producción es completamente compatible con la transición energética”. Watt defendió que este proceso debe acelerarse ajustando la demanda, sin restringir voluntariamente el suministro nacional, dado que “sería rápidamente cubierto por otros países en detrimento de los intereses nacionales”.
El lunes, Petrobras recibió la licencia ambiental del Instituto Brasileño del Medio Ambiente y de los Recursos Naturales Renovables (Ibama) para perforar un pozo exploratorio en el bloque FZA-M-059, situado a 175 kilómetros de la costa del estado de Amapá, próximo a la frontera con Surinam. La estatal inició los trabajos el mismo día de la autorización, según informó en un comunicado. Este pozo no producirá petróleo durante la fase exploratoria y las tareas podrían extenderse hasta cinco meses.
El ministro de Energía, Alexandre Silveira, celebró la decisión y subrayó en sus redes sociales que “el Margen Ecuatorial representa el futuro de nuestra soberanía energética. Brasil no puede renunciar a conocer su potencial”. Silveira insistió en que la perforación se realizará bajo “los más altos estándares internacionales” y con “responsabilidad ambiental”.
No obstante, la explotación petrolera en la región ha suscitado críticas de organizaciones ambientalistas y comunidades indígenas, dadas la vulnerabilidad y “extrema sensibilidad” del ecosistema amazónico. La polémica aumenta en vísperas de la COP30, donde uno de los ejes clave de debate será la reducción gradual del uso de combustibles fósiles.
La Margen Ecuatorial, que se extiende desde la frontera con Surinam hasta el noreste del país, es señalada por analistas geológicos y la industria como una de las zonas más prometedoras de Brasil por sus similitudes con los descubrimientos de hidrocarburos realizados en Guyana. Durante la última década, la región ha sido objeto de exploración por parte de importantes compañías internacionales, como Chevron, ExxonMobil, Petrobras y la Corporación Nacional de Petróleo de China.
El gobierno de Lula da Silva argumenta que el crecimiento del sector es clave para financiar la transición energética y el desarrollo económico. En junio, el Ejecutivo subastó otros 19 bloques en alta mar, algunos en cercanías del Amazonas, reafirmando su determinación de expandir la actividad petrolera en el país pese a las restricciones impuestas por las demandas ambientales.
La exploración en aguas profundas bajo la capa de sal, así como en la denominada Margen Ecuatorial, plantea desafíos técnicos y ambientales, en especial por las fuertes corrientes oceánicas y la proximidad a zonas de alta biodiversidad. Petrobras señaló que el pozo exploratorio en el bloque FZA-M-059 forma parte de su estrategia para incrementar reservas y conocer el potencial petrolero brasileño, aunque aún no está previsto su desarrollo comercial inmediato.
(Con información de AFP, AP y EFE)
cuenca de campos,empresas,empresas petroleras brasileñas,exterior,petrobras,petrolíferas,plantas,plataforma p-51,plataformas de petróleo,semi-públicas
INTERNACIONAL
Trump to host roundtable on efforts to thwart cartels, human trafficking operations

Mexican leaders want US help against cartels
Mexican Senator Lilly Téllez joins ‘Fox & Friends Weekend’ to discuss growing tensions between President Trump and Venezuelan leader Nicolás Maduro as the U.S. boosts its military presence in the region to target drug boats and cartels.
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FIRST ON FOX: President Donald Trump will host a roundtable at the White House Thursday afternoon with law enforcement and administration officials to discuss the successes of the Homeland Security Task Forces, which the president established on his first day in office to snuff out threats from criminal cartels in the U.S.
«The President’s Homeland Security Task Forces are a landmark achievement that highlight what the federal government can achieve with a leader like President Trump who is willing to slash red tape, increase coordination and put the safety of the American people first,» White House spokeswoman Abigail Jackson told Fox News Digital of the event.
«In a short period of time, the Trump Administration has removed lethal drugs, illegal weapons, dangerous foreign terrorists and cartel members from American communities,» she added. «The American people are safer today because of the HSTFs — and they’re just getting started.»
Trump established the creation of Homeland Security Task Forces Jan. 20 — his first day back in office — via executive order, «Protecting the American People from Invasion.» The executive order directed Attorney General Pam Bondi and Secretary of Homeland Security Kristi Noem to establish such task forces in each state as part of the administration’s efforts to thwart cartels and human trafficking networks operating on U.S. soil.
WAR DEPARTMENT LAUNCHES NEW COUNTER-NARCOTICS TASK FORCE UNDER TRUMP DIRECTIVE TO CRUSH CARTELS
President Donald Trump is slated to hold a roundtable with administration officials to discuss updates on the Homeland Security Task Forces. ( Anna Moneymaker/Getty Images)
The executive order specifically directed the task forces to «end the presence of criminal cartels, foreign gangs, and transnational criminal organizations throughout the United States, dismantle cross-border human smuggling and trafficking networks, end the scourge of human smuggling and trafficking, with a particular focus on such offenses involving children, and ensure the use of all available law enforcement tools to faithfully execute the immigration laws of the United States.»
On Thursday, administration officials will join Trump to provide updates on the task forces’ efforts.
The roundtable will be joined by Deputy Chief of Staff and Homeland Security Advisor Stephen Miller, Noem, Bondi, Deputy Attorney General Todd Blanche, Secretary of War Pete Hegseth, FBI Director Kash Patel and Director of National Intelligence Tulsi Gabbard, Fox News Digital learned.
TRUMP SENDS MILITARY AFTER THE CARTELS AND IT’S LONG OVERDUE

A January executive order directed Attorney General Pam Bondi, here, and Secretary of Homeland Security Kristi Noem to establish such task forces in each state as part of the administration’s efforts to thwart cartels and human trafficking networks operating on U.S. soil. (Yuri Gripas/Abaca/Bloomberg via Getty Images)
Fox News Digital learned that the task forces nationwide became fully operational at the end of August and have yielded thousands of arrests, and the removal of dangerous drugs and illegal firearms from U.S. streets.
BONDI SAYS HUMAN SMUGGLING IS ‘GETTING PEOPLE KILLED’ ACROSS US AS SHE ANNOUNCES CRACKDOWN
More than 3,000 foreign terrorists and cartel members were arrested as part of the task forces’ operations, including members of notoriously dangerous gangs such as the Sinaloa Cartel, MS-13 and Cartel Jalisco Nuevo Genaracion, Fox News Digital learned.

President Donald Trump will host a roundtable at the White House Oct. 23, 2025, with law enforcement and administration officials, like Homeland Security Secretary Kristi Noem. (Mark Schiefelbein/The Associated Press)
The task forces also have recovered two million fentanyl pills and seven tons of other deadly narcotics, seized $3 million in currency and removed more than 1,000 illegal guns from U.S. communities.
Trump campaigned, in part, on removing violent illegal immigrants and crime from U.S. communities, spotlighting the efforts in his address before Congress back in March 2025.
«The territory to the immediate south of our border is now dominated entirely by criminal cartels that murder, rape, torture and exercise total control. They have total control over a whole nation. posing a grave threat to our national security,» Trump said at the time. «The cartels are waging war in America, and it’s time for America to wage war on the cartels.»
The roundtable comes as the U.S. military carries out strikes on suspected drug cartel vessels in the Caribbean and eastern Pacific. The strikes began in September and are part of Trump’s broader effort to dismantle transnational cartels by force.
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Trump held a similar roundtable at the White House earlier in October, inviting independent journalists who have experienced Antifa’s violence firsthand to speak about their experiences as the administration targets the left-wing group’s protests outside immigration facilities and recently designating it a «domestic terrorist organization.»
donald trump,white house,border security,homeland security,immigration
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