1. Promote comprehensive audits, which may target the Federal Reserve!
Musk, under the name of the Department of Government Efficiency (DOGE), in collaboration with former Congressman Ron Paul, plans to initiate the most rigorous audit of the Federal Reserve in history, demanding the disclosure of details regarding monetary policy decisions and the authenticity of gold reserves. Musk publicly questions the gold holdings of Fort Knox, stating, 'Who can ensure that this gold hasn't been stolen?'. Federal Reserve Chairman Powell emphasizes that 'an independent audit has been conducted as required by law', but acknowledges that 'existing transparency is insufficient', warning that such actions may threaten the independence of the central bank.
2. Layoffs! Cut personnel and budgets
Musk claims that 'the Federal Reserve's staffing is bloated', planning to lay off 30% of employees and cut the annual budget by 20% (about $5 billion). Currently, DOGE has shut down agencies such as the Consumer Financial Protection Bureau (CFPB) and the U.S. Agency for International Development (USAID), eliminating over 65,000 federal employees. Powell rebuts that 'the Federal Reserve is overworked rather than overstaffed', but data shows that the average assets managed per employee reach $230 million, significantly higher than the level of private banks.
3. Restructure the policy framework, impacting the global economic order!
DOGE intends to split the functions of the Federal Reserve into a 'Monetary Policy Bureau' and a 'Financial Regulatory Bureau', abolishing the 'full employment' goal in the Federal Reserve Act, while retaining only the inflation control function. This move could undermine the credibility of the dollar and exacerbate market volatility. Atlanta Federal Reserve President Musalem warns that the radical reforms of the Trump-Musk alliance will lead to a 15% increase in the 'policy uncertainty index', dragging down global economic growth by 0.5%.
Musk is reshaping the Federal Reserve with a 'corporatization' logic, and the Federal Reserve may vanish in the near future!!
