Trump has argued that inflation is down before. While it's steadily ebbed in recent years, prices are still rising faster than the Fed would like.

The US economy added 177,000 jobs last month, down slightly from a revised 185,000 in March. Shortly after the figures were released, Trump took to Truth Social to boast of 'strong' employment figures,

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.

(Reuters) -Billionaire Elon Musk is considering sending his government efficiency team to the Federal Reserve, Bloomberg News reported on Thursday, citing a costly renovation of the central bank's Washington DC headquarters as an example of potential government waste.