Elon Musk, the billionaire and Tesla boss, will be tasked with making the American government more efficient starting in January and wants the American Central Bank to make significant cuts.
According to him, the Federal Reserve is “ridiculously overstaffed”.
Musk writes this on the social media platform X, which he owns. Earlier, incoming president Donald Trump also took aim at the Fed, stating that as president, he should have a say in monetary policy and the setting of interest rates.
Musk is one of Trump’s most essential advisors as he prepares to return to the White House. With entrepreneur Vivek Ramaswamy, Musk will lead the Department of Government Efficiency to create a leaner, more efficient government, including $2 trillion in spending cuts.
The Federal Reserve employed about 24,000 people last year.
