Billionaire entrepreneur Elon Musk announced on Thursday that he is considering auditing the Federal Reserve, reigniting his call for greater scrutiny of the central bank.
Musk made the remarks while speaking at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland. His statement follows previous criticisms of the Fed’s policies, particularly regarding inflation and interest rates.
Since Donald Trump began his second term as president last month, Musk has been leading a sweeping cost-cutting initiative under the newly formed Department of Government Efficiency. The program has targeted multiple federal agencies in an effort to eliminate wasteful spending and streamline operations.
Musk’s potential push for a Federal Reserve audit aligns with broader conservative concerns over transparency and accountability in the nation’s monetary policy. Critics of the Fed have long argued for more oversight of its decision-making processes, particularly regarding interest rates and money supply.
It remains unclear how Musk would proceed with an audit or whether he has the legal authority to mandate one. However, his influence in business and politics could bring renewed attention to the issue.
Musk’s comments at CPAC add to the growing debate over the role of the Federal Reserve, its independence, and the broader economic policies shaping the United States under the new administration.
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