Elon Musk said on Wednesday that he was planning to send his federal efficiency unit to investigate the federal reserve after discovering that the central bank spent $ 2.5 billion for the renovation of the headquarters in Washington, DC.
Elon made the declaration inside the Roosevelt room of the White House, where he told journalists:
“Since the end of the day, it is all taxpayers' money, I think we, certainly – we should certainly – seek to see if indeed the federal reserve spent two and a half billion dollars on their interior architect.”
The renovation project, which started in 2021, saw its costs increase while the Fed blamed the rise in prices of building materials and labor. The total is now at 2.5 billion dollars. “It's a eyebrow milk,” added Elon.
His comments intervened a few hours before the Wall Street Journal indicated that the board of directors of Tesla had started working with a research firm to find the next CEO of the company. Robyn Denholm, president of Tesla, then denied the report on X, calling it “absolutely false”.
Elon was in Washington to highlight his Ministry of Government or Doge's efficiency, only a week after telling investors that he would spend less time in the capital and the return to Tesla in the middle of slippery sales and a drop in the course of action.
He used the time to target the Fed, a private entity that does not take money from the congress but which works instead using the benefits of the assets it holds. But in recent years, the Fed has lost money due to the increase in interest costs and has not been able to return profits to the Treasury.
Trump's Doge team targets federal costs
Elon's pressure to examine the Fed is part of a wider strategy under President Donald Trump, who set him up in Doge in January. Since then, his teams have gone from the agency to the agency in search of waste, cut the staff, close the programs and search in sensitive databases.
The Fed, including its board of directors and 12 regional banks, has confidential data on banks and the monetary policy to which the people of Elon could soon access.
The methods of his team fired heavy shots. At Social Security Administration, Doge's access to internal systems has caused portal accidents. Critics say that Elon is carefree with sensitive information and uses weak security protocols.
But he defended the work, saying that DOGE needs data to find $ 162 billion in inappropriate payments each year. He explained that fraud thrives because government databases are not linked.
“There is something like 20 million people marked as alive who are not – now most of these people did not receive social security. said. “The dead should not receive unemployment insurance. Are they used in life after death? ” He postponed monitoring accusations, calling for the simple data reconciliation process.
On Wednesday, a federal court of appeal prevented Doge from accessing personal social security data, citing Elon's own comments that the program is a “Ponzi program” as proof that this is a political target of the Trump administration.
Doge cuts the workforce and reorganizes hiring
DOGE also shakes the federal workforce. One of Elon's signature efforts is the resignation plan for the “fork on the road”. He gave eligible workers a chance to resign by February and always be paid until September. About 80,000 employees have registered. At the end of April, about three -quarters had officially left. The agencies have spaced the outings to avoid the disturbances of the service.
“You did not wake up one day with 100,000 people leaving the labor market. They take place regularly.
He said many agencies have continued the buyouts, calling for the latest “Rolling Forks” offers. The second wave of volunteers is more than double the first, and Armstrong expects the final figures to reach the “hundreds of thousands”.
Although the cuts were deep, Armstrong said they are mainly voluntary. About 80% of the discounts came from the resignation and early retirement offers. Only 20,000 workers were dismissed using official layoffs, while 26,000 new hires completed essential jobs despite an in progress frost. “We have in fact hired more people than what was dismissed at the moment,” he said.
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