Musk considers conducting a Federal Reserve audit
On Thursday, Elon Musk provided insights into forthcoming initiatives, including the prospect of auditing the Federal Reserve, as his Department of Government Efficiency aggressively navigates through federal agencies to pinpoint and execute budgetary and staffing reductions, operating under the mandate of President Trump. When questioned about his intentions to audit the Federal Reserve, Musk affirmed his plans but refrained from providing further details. He further intensified the prospect of distributing payouts to the public from certain budgetary savings identified by DOGE. On Wednesday, Trump indicated that he was considering the notion.
“It is capital redirected from entities that undermine national interests and organizations that oppose you, and allocated to your benefit…””The spoils of battle, you know,” remarked the Tesla CEO to an enthusiastic audience at the Conservative Political Action Conference, refraining from naming any specific organization. CPAC, a long-established annual assembly of conservatives, has increasingly evolved into a platform for the celebration of Trump and his Make America Great Again agenda in recent years. The billionaire indicated his intention to investigate the presence of gold in Fort Knox, the U.S. gold reserves depository located in Kentucky, a notion previously suggested by Trump a day prior. Treasury Secretary Scott Bessent informed Bloomberg on Thursday that an annual audit is conducted, asserting that “all the gold is there.”
Musk made a dramatic appearance on the CPAC stage, clad in black, sporting sunglasses and a black MAGA hat, while energetically raising his fists in the air. In an unexpected move, President Javier Milei of Argentina joined Musk, presenting him with a chainsaw as a symbol of his commitment to dismantling what he deems excessive expenditure within his administration. Musk brandished the power tool, declaring: “This is the chainsaw for bureaucracy.”
Musk refrained from detailing his intentions regarding the examination of Federal Reserve operations during his onstage dialogue with Rob Schmitt of Newsmax, a conservative news and opinion cable network. The Federal Reserve undergoes an annual audit of its financials, which are subsequently made available to the public online. Musk, a financial supporter of Trump during the presidential campaign, recently articulated on his X platform that “all aspects of the government must be fully transparent and accountable to the people.” No exceptions, particularly regarding the Federal Reserve.
When questioned about the extent of waste within the federal budget, Musk remarked, “It’s akin to being in a room…”All surfaces—the walls, the roof, and the floor—serve as potential targets. One might suggest that the approach involves closing one’s eyes and aiming indiscriminately in any direction. DOGE asserts that its cost-cutting measures have accumulated resources, yet it cannot decline to utilize funds allocated by Congress or dismiss officials whose tenures are determined by legislative mandates.
