Musk Suggests President Control Fed
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Federal ReserveInsider
•The fight over Jerome Powell puts Elon Musk at odds with Wall Street
80% Informative
Elon Musk backs a suggestion to let the president control the Federal Reserve .
The Fed 's mandate is to maintain the stability of the US economy.
Some Wall Streeters are concerned that undermining Fed independence would undercut investors' faith in the stock and bond markets.
Trump 's interest in Powell and the Fed seems to boil down to a desire to have a say in interest rates.
Siegel and Spindel said that the Fed is doing what Trump wants: cutting rates.
They said the president-elect is less likely to go after the central bank at the very moment it's working in his favor.
Musk 's newfound government influence is raising some alarm bells.
VR Score
83
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80
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65
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English
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