Tesla CEO Elon Musk Endorses Presidential Say in Fed Policy, Supports Sen. Mike Lee's '#EndtheFed' Call

Benzinga

Tesla and SpaceX CEO Elon Musk publicly backed a call from Sen. Mike Lee to place the Federal Reserve under presidential direction. Musk expressed his support in response to Lee's social media post. The move aligns him with recent challenges to Fed independence as President-elect Donald Trump assumes office. Fed Chair Jerome Powell confirmed on Thursday that he would not resign if asked by Trump. The independence of the Federal Reserve traditionally allows it to manage monetary policy based on economic needs rather than political influence.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Tesla and SpaceX CEO Elon Musk publicly backed a call from Senator Mike Lee

00:07to place the Federal Reserve under presidential direction.

00:10Musk expressed his support in response to Lee's social media post.

00:13The move aligns him with recent challenges to Fed independence

00:17as President-elect Donald Trump assumes office.

00:20Fed Chair Jerome Powell confirmed on Thursday that he would not resign if asked by Trump.

00:25The independence of the Federal Reserve traditionally allows it to manage monetary

00:29policy based on economic needs rather than political influence.

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