Powell pushes back on Musk/DOGE, says Fed 'overworked,' not 'overstaffed'
Published On Feb 11, 2025, 4:52 PM
Federal Reserve Chair Jerome Powell has responded to Elon Musk's assertion that the Federal Reserve is "absurdly overstaffed." During a congressional hearing, Powell stated that while the Fed is "overworked," it is not overstaffed, asserting that the employees are dedicated and worked hard, especially during the COVID-19 pandemic. This exchange highlights ongoing tensions regarding the Fed’s structure and monetary policy decisions.
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Powell's comments indicate continued confidence in the Fed's operational effectiveness despite external criticism. This stability can assure investors about sustained monetary policy decisions, implying resilience in the financial system.
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