- Elon Musk suggested that his government's government cost reduction project should take a closer look at Fed expenses, in particular the $ 2.5 billion he spent to renovate his headquarters in Washington DC. Musk's comments arise when he should “considerably” reduce his time to Doge in part to focus on his Tesla electric vehicle company.
The Doge of Elon Musk have already made major discounts to the departments through the executive power, but it could consider the independent federal reserve as its next target.
Tesla CEO and Trump advisor said his federal combinations should take a closer look at the central bank, citing the substantial cost of renovating the Washington DC seat as a possible source of waste.
“Given that in the end, it is all the taxpayers' money, I think we certainly have – we should certainly – seek to see if indeed the federal reserve spent two and a half billion dollars for their interior architect,” Musk told the White House journalists, Bloomberg reported.
In 2022, the Fed renovation price increased to 2.5 billion dollars against an initial budget of $ 1.9 billion. The redesign at the Fed headquarters on Constitution Avenue began in 2021 and aims to consolidate most of its staff in a single space, as well as to Improve technologyEnergy efficiency and compliance with building codes.
However, Musk criticized the high construction price on Wednesday.
“I mean, what do you get $ 2.5 billion in redecoration?” Must be incredible ”, he saidaccording to CNBC.
In light of the bad performance of Tesla's stock in recent months, Musk has promised last month that his time in Doge would “drop considerably” from May.
The Fed does not generally receive taxpayers because it is self -funded interest in the titles of its balance sheet and the costs of the banks. For years, the FED has returned the funds it had after covering its operating costs to the treasury, but in recent years, the Fed has experienced a deficit due to increased payments of interest, Bloomberg reported.
However, the documents filed with the National Capital Planning Commission note the headquarters of the Fed, which shelters not only staff but also important information on the banks it regulates, was in poor condition.
“Although there have been changes and regular building renovations on its 80th anniversary, many construction systems are at the end of their useful lifespan, and the building no longer fully meets the needs of the council CNBC.
Musk's recent comments on the Fed come as Trump increased his rhetoric against the president of the Fed, Jerome Powell, and asked the Central Bank several times to reduce interest rates.
Before clarifying that he had “No intention” To dismiss Powell, Trump suggested that he could reject the president of the Fed if he wanted, and said that his dismissal “could not come quickly enough”. Trump on Tuesday suggested knowing more than Powell on interest rates.
“You are not supposed to criticize the Fed,” said Trump. “You are supposed to let him do his own thing, but I know much more than him of interest rates.”
This story was initially presented on Fortune.com
