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Fortune
Fortune
Jason Ma

Elon Musk backs call to '#EndTheFed' after Jerome Powell says he won't resign early

Elon Musk at a campaign rally (Credit: Jabin Botsford—The Washington Post via Getty Images)

Tesla CEO Elon Musk expressed support for an idea to give presidents more control over the Federal Reserve, which could threaten its independence.

On his social-media platform X late Thursday, Musk placed the "100" emoji on a retweet of a post from Sen. Mike Lee, R-Utah, that said, "The Executive Branch should be under the direction of the president. That’s how the Constitution was designed. The Federal Reserve is one of many examples of how we’ve deviated from the Constitution in that regard. Yet another reason why we should #EndTheFed"

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