Central Banks
Trump Efficiency Co-Chief Elon Musk Calls Fed ‘Overstaffed’
- Trump has also criticized the Fed and Chair Jerome Powell
- ECB President Lagarde has defended work of central banks
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Elon Musk, the billionaire tasked with making the US government more efficient come January, has zeroed in on the Federal Reserve.
The central bank in charge of protecting the world’s largest economy is “absurdly overstaffed,” Musk wrote on social-media platform X. The remarks were part of a thread that began with another individual posting about the Fed’s latest policy decision. Musk, a prolific social-media commentator, didn’t expand on the remark.