Tesla CEO Elon Musk (R) joins erstwhile U.S. President and Republican statesmanlike campaigner Donald Trump during a run rally astatine the tract of his archetypal assassination effort successful Butler, Pennsylvania, connected Oct. 5, 2024.
Jim Watson | Afp | Getty Images
Tesla and SpaceX CEO Elon Musk, the billionaire backer of recently minted President-elect Donald Trump, endorsed the thought of allowing presidents to intervene connected Federal Reserve policy.
In effect to a Thursday societal media station from Sen. Mike Lee, R-Utah, which called for the Fed to beryllium nether the absorption of the president, Musk connected Friday posted the "100" emoji utilized to convey agreement.
Sen. Lee had punctuated his station with "#EndtheFed."
Though brief, Musk's remark reflects a broader unit run connected Fed independency that could instrumentality signifier successful the adjacent Trump administration.
On Thursday, Fed Chair Jerome Powell said he would not resign from his station if Trump asked him to bash so. That marked the revival of what could again germinate into a contentious narration betwixt the Fed seat and the president-elect.
The contented of Fed independency aims to springiness the cardinal slope the quality to signifier monetary argumentation decisions — specified arsenic raising oregon lowering involvement rates — based solely connected the aboriginal wellness of the U.S. economy.
But during his archetypal word successful office, Trump was not shy astir breaking from contented and publically disparaging Powell and his argumentation decisions.
Over the people of the 2024 statesmanlike campaign, Trump besides often flirted with the thought of giving himself a accidental successful Fed argumentation if helium were to triumph the White House again.
"I consciousness the president should person astatine slightest [a] accidental successful there," Trump said successful August astatine a property league astatine his Mar-a-Lago nine successful Florida. "I deliberation that successful my case, I made a batch of money, I was precise successful, and I deliberation I person a amended instinct than, successful galore cases, radical that would beryllium connected the Federal Reserve oregon the chairman."
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