If Trump tries to fire Fed Chairman Powell, Powell is ready for a legal fight. (WSJ)
Yesterday, according to CNBC, Musk is a loyal supporter of President-elect Trump and supports the idea of "allowing the president to intervene in Fed policy." According to reports, Utah Republican Senator Mike Lee previously called on the Fed to "take orders from the president" on social media. In response, Musk posted a "100" emoji on the 8th, indicating full agreement. Mike Lee added the tag "#EndtheFed" to his post.
Musk's comments were brief, but they reflected a broader pressure campaign on the independence of the Federal Reserve that could form in the next Trump administration. According to reports, Fed Chairman Powell said on the 7th that he would not resign even if Trump asked him to resign.