PANews November 10 news, according to CNBC, Musk is a loyal supporter of President-elect Trump, and he supports the idea of "allowing the president to intervene in Federal Reserve policy." The report states that U.S. Senator Mike Lee, a Republican from Utah, previously called on the Federal Reserve to "follow the president's orders" on social media. In response, Musk posted the "100" emoji on the 8th, indicating his full agreement. Mike Lee added the hashtag "#EndtheFed" to his post. Musk's brief comment reflects a broader pressure campaign that may form regarding the independence of the Federal Reserve in the next Trump administration. The report states that Federal Reserve Chairman Powell said on the 7th that he would not resign even if Trump asked him to. This marks a potentially contentious relationship between the Federal Reserve Chairman and the President-elect. The tradition of Federal Reserve independence aims to empower the central bank to formulate monetary policy solely based on the health of the U.S. economy's future, such as raising or lowering interest rates.