Tesla & SpaceX CEO Elon Musk , the billionaire backer of newly minted President-elect Donald Trump , endorsed the idea of allowing presidents to intervene on Federal Reserve policy. In response to a Thursday social media post from Sen. Mike Lee, R-Utah, which called for the Fed to be under the direction of the president, Musk on Friday posted the “100”
Read MoreTesla CEO Elon Musk expressed support for an idea to give presidents more control over the Federal Reserve, which could threaten its independence. On his social-media platform X late Thursday Musk placed the “100” emoji on a retweet of a post from Sen. Mike Lee, R-Utah, that said, “The Executive Branch should be under the direction of the president. That’s
Read MoreElon 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
Read MoreTrump ally Elon Musk – the billionaire founder of Tesla and SpaceX – signaled his support for the president-elect’s controversial bid to place the Federal Reserve under control of the White House. Musk on Friday replied with a “100” emoji to a post on X from Republican Sen. Mike Lee of Utah. “The Executive Branch should be under the direction
Read MoreSenator’s call to abolish the Federal Reserve represents a growing sentiment among “sound money” advocates and Bitcoin maximalists. Elon Musk appeared to support a call to end the Federal Reserve Bank in the United States after reposting a tweet from Utah Senator Mike Lee — who called for greater executive oversight over monetary policy and abolishing the central bank. Lee
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