US billionaire Elon Musk said on Sunday that the Federal Reserve should cut interest rates and that it would be foolish for the council not to do so yet.
He took to social media platform X, criticizing the Fed for “overstaffing.” His comments came in response to a discussion sparked by a post about the Fed’s latest policy decisions. Earlier, US President-elect Donald Trump also took aim at the Fed, expressing his belief that it should have a say in monetary policy and interest rate setting. The billionaire Musk is set to focus on improving the efficiency of the US government starting in January next year, with the Fed now reportedly in his sights.
