Elon Musk has trained his cost-cutting eye on the Federal Reserve, questioning the central bank’s ongoing $2.5 billion headquarters renovation and suggesting it may be a prime target for scrutiny by the so-called Department of Government Efficiency,

Elon Musk suggested his cost-cutting government project DOGE should take a closer look at the Fed’s spending, especially the $2.5 billion it has spent to remodel its Washington D.C. headquarters. Musk’s comments come as he is set to “significantly” cut back his time at DOGE in part to focus on his EV company Tesla.

Elon Musk admitted that his cost-cutting Department of Government Efficiency (DOGE) has not lived up to his initial promises to slash federal spending by $2 trillion. "In the grand scheme of things, I think we've been effective.