Trump says he is considering suing Federal Reserve Chairman Powell

U.S. President Donald Trump said on Tuesday that he is considering suing Federal Reserve Chairman Jerome Powell due to cost overruns in the renovation of the Federal Reserve building.

"Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board. 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!” Trump wrote on his social media platform.

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Trump says he is considering suing Federal Reserve Chairman Powell

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Trump says he is considering suing Federal Reserve Chairman Powell

White House press secretary Karoline Leavitt later confirmed Trump's statement in response to reporters' questions.

In his post, Trump also once again urged Powell to lower interest rates immediately.

For months, Trump has been pressuring the Federal Reserve to cut interest rates, stating that the U.S. government is paying huge interest on its debt and has repeatedly threatened to fire Powell.

A powerful winter storm swept through Toronto and surrounding areas on Thursday, causing school closures and travel delays as heavy snowfall reduced visibility and affected transportation services.

Meteorological authorities warned that heavy snowfall would greatly reduce visibility, while local transportation officials reported that several roads had been completely closed and major surface transit routes were operating at reduced speeds due to the storm.

Toronto Pearson International Airport officials announced Thursday that air traffic control measures had been implemented due to severe weather, affecting several inbound and outbound flights. Meanwhile, several local school boards in Toronto fully suspended classes, while others enacted partial closures in response to the storm.