Musk Won't Drop Push For Fed Audit

Elon Musk again called for closer scrutiny of the Federal Reserve, telling a conservative gathering on Thursday that he plans to audit the central bank.

The Fed already undergoes annual audits by independent agencies, and experts have dismissed Musk’s proposed audit as unrealistic.

However, U.S. law prohibits Musk from conducting such an audit, and critics note that he lacks both the authority and the financial expertise to do so. Despite this, Musk insisted he would push forward, Yahoo Finance reported.

This marks the second time this month that Musk has advocated for increased oversight of the Fed—an independent agency responsible for setting interest rates and regulating the nation's largest banks.

His latest comments come as the White House moves to exert greater control over how the Fed oversees these banks, issuing an executive order that expands the power of President Donald Trump’s appointees within independent agencies.

Critics argue that if Musk is so eager to audit government institutions, independent agencies should likewise investigate his companies—SpaceX, Starlink, and Tesla—all of which have benefited from federal subsidies.

The Fed already undergoes annual audits by independent agencies, and experts have dismissed Musk’s proposed audit as unrealistic.

Some likened it to the errors made in Musk’s Dogecoin-related ventures, which have faced allegations of financial mismanagement and misleading claims about savings and statistics.

The new executive order clarifies that while the Fed will retain full control over monetary policy and interest rates, oversight of the nation’s largest banks will now be more closely aligned with White House policies and priorities.

Musk first suggested his support for a Fed audit on Feb. 9 in a series of posts on his platform, X. When another user claimed that the Fed had never undergone a full audit or disclosed key monetary policy decisions,

Musk responded: "All aspects of the government must be fully transparent and accountable to the people. No exceptions, including, if not especially, the Federal Reserve."