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Elon Musk Clearly Warned the Fed: Can Chase Along with DOGE! - Coin Bulletin
Elon Musk, who is tasked with making the U.S. government more efficient, seems to have set a new target: the U.S. Federal Reserve.
Famous billionaire, in his statement on X, stated that the Fed has an “absurdly excessive personnel”. Musk made this comment in response to a post about the Fed's recent policy decisions, but did not elaborate on his statement.
You can chase after with DOGE
Musk, as one of the closest advisors to former US President Donald Trump, is preparing to take on a significant role in the new government, which will take office in January. Musk, together with entrepreneur Vivek Ramaswamy, will lead a new agency called the "Department of Government Efficiency (DOGE)." The primary goal of DOGE is to create a leaner and more efficient government structure and achieve a $2 trillion budget cut.
The Fed employed approximately 24,000 people last year, with its headquarters in Washington and 12 regional reserve banks across the United States. However, this number is lower compared to other central banks. For example, the European Central Bank and the 20 national central banks in the Eurozone, including the central banks of Germany, France, and Italy, employ more staff.