Powell says he pushed Musk/Dozi back and fed him “over staffed”
Senator Rand Paul, R-Ky. discusses the importance of reducing federal budgets in “making money.”
Federal Reserve Chairperson Jerome Powell It updated his pushback to Elon Musk’s claim that the Fed is overabundance at Tuesday’s Congress hearing.
Powell testified before the Senate Banking Committee on the six-annual update on monetary policy and the economy, and was asked by Senator Andy Kim by DN.J. I did.
“No, I think you know, maybe it’s not overly understaffed.
Musk recently said the Federal Reserve is “silly” and Government Efficiency Bureau (Doge) was able to aim for the Fed audit. He previously criticized the Fed’s monetary policy decisions.
Elon Musk warns that the Federal Reserve could face a Doge audit
Federal Reserve Chairman Jerome Powell said the Fed’s workforce is “overworked” rather than “overworked.” (Getty Images/Seth Herald via Getty Images/Bloomberg)
Powell previously said the Fed will go through a careful budgeting process to determine its staffing level. At Tuesday’s hearing, he also discussed the role the Federal Reserve workforce will play. COVID Pandemic And how it relied on the knowledge of long-standing employees.
“The US Treasury has stopped functioning as the pandemic escapes blues around the world and the economy closes down. The Federal Reserve experienced a global financial crisis 10 years ago, saying, “We’ve done this.” I moved forward to say, “I put it in,” Powell explained.
“We know what to do. Here we do with money market funds. Here we do with companies that can’t get funds. The market is closed, The company had mature debts that had to fall.”
Powell pushes back Musk’s claim.
Tesla and SpaceX CEO Elon Musk lead Doge and criticize the Fed. (Saul Loeb/Pool/AFP Getty Images/Getty Images)
“Those who knew what to do in that pretty bad emergency, Federal Reserve System And elsewhere, I’ll tell you, that was impressive. He added. “Really, our work in that acute phase of the crisis has been very successful, and it’s entirely, entirely due to the knowledge base. Pay.”
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After testifying before the Senate Banking Committee on Tuesday, Powell is scheduled to appear before the House Financial Services Committee on Wednesday, and will house lawmakers with a six-month update on monetary policy and the economy. is.