Musk suggests closer scrutiny of Fed as Powell prepares to face Congress
Published On Feb 10, 2025, 11:04 AM
Elon Musk has called for greater scrutiny of the Federal Reserve just days before Fed Chair Jerome Powell is scheduled to testify in Congress. Musk emphasized the need for transparency within the government, especially regarding the Fed's monetary policy and operational decisions. In the discussion, Musk suggested former Congressman Ron Paul could lead an audit of the Fed, reflecting his longstanding concerns about the institution. Powell is expected to face intense scrutiny regarding the Fed's independence and its recent monetary policy decisions during his upcoming testimonies before Congress.
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Musk's call for transparency and an audit of the Fed highlights growing concerns about monetary policy oversight and could lead to increased market volatility. If this scrutiny leads to effective change or perceived instability in the Fed's operations, it could negatively impact investor sentiment.
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