U.S. President Donald Trump is considering a lawsuit against Federal Reserve Chair Jerome Powell related to his management of renovations at the Fed's Washington headquarters, White House spokeswoman Karoline Leavitt said on Tuesday.

Trump recently announced he’s nominating his chair of the Council of Economic Advisers, Stephen Miran, to fill a newly opened position on the Fed’s Board of Governors. If confirmed by the Senate, Trump said he anticipates Miran being at the Fed for a matter of months and likely would not nominate him for chair.

U.S. President Donald Trump offered a veiled threat on Tuesday of a "major" lawsuit aimed at Federal Reserve Chair Jerome Powell in Trump's ongoing dispute over renovations of the central bank.