Elon Musk, who is on track to become the world’s first trillionaire by 2027, is known for boldly sharing highly divisive opinions on and desires for the U.S. economy. Musk has beef with a number of U.S. governmental policies as they stand. President-elect Donald Trump, to an extent, is in alignment with Musk and wants Musk to make moves to overhaul the government.

This brings us to ask, “What could happen to The Federal Reserve under a Trump presidency — a presidency that will likely empower Musk’s political influence?” Musk has signaled that he wants to see the Fed overhauled or even dismantled. He did so by including a “100” emoji in a re-share of Republican Sen. Mike Lee of Utah’s post on X calling for ending the Fed.

“The Executive Branch should be under the direction of the president,” Lee said on Nov. 7 in a post on X, shortly after Fed Chair Jerome Powell told media outlets he wouldn’t resign if asked to do so by Trump. “The Federal Reserve is one of many examples of how we’ve deviated from the Constitution in that regard,” Lee added. “Yet another reason why we should EndTheFed.”

Musk’s public endorsement of the wish to end the Fed shouldn’t be swept aside as mere swagger — not when he is poised to play a key role in Trump’s administration. Could the Fed be abolished? What would that mean for the economy and, ultimately, for your wallet