Recently, at a meeting of conservative political action in National Harbor, Maryland, Musk was interviewed. Asked if an audit of the Fed was being considered, Musk replied, "Yes, of course. In addition, Musk said when discussing cutting federal spending, "Waste is almost everywhere." ”

At the same time, the latest statements by Federal Reserve officials have also attracted market attention. In public speeches, a number of Fed officials stressed that despite the overall solid performance of the U.S. economy, there is still uncertainty about the path of inflation, and that the Trump administration's trade, immigration and fiscal policies could have a significant impact on the future direction of the economy.

Musk calls for an audit of the Federal Reserve: a balance between transparency and independence

Recently, Musk has reignited the long-running debate over the Fed's audit, a topic that has been attracting the attention of politicians and financial experts. Musk's call for greater transparency from the Federal Reserve has sparked widespread discussion and highlighted the delicate balance between government oversight and the Fed's independence.

Musk, known for his leadership at Tesla and SpaceX, has been outspoken about the need for greater scrutiny of the Federal Reserve. He shared his thoughts on social media platforms, stressing: "All aspects of government must be fully transparent and accountable to the people. ” Musk's remarks reflect a widespread belief in the importance of transparency in all government operations, and the Federal Reserve is no exception.

In late December, Musk lashed out at the Fed on social media, accusing it of being "extremely bloated." As soon as this statement came out, it immediately aroused widespread attention in the market. As a member of the team committed to improving the efficiency of the U.S. government, Musk's remarks not only expressed his dissatisfaction with the current state of the Federal Reserve's operations, but also foreshadowed a series of reforms that could be implemented against the institution in the future.

Interestingly, Musk has also hinted at the appointment of former congressman Ron Paul led the audit of the Federal Reserve. Ron Paul has long advocated for auditing the Fed and criticized its inadequate regulation, proposing a number of bills aimed at increasing the Fed's transparency. Musk to Ron Paul's support is consistent with his position that a thorough review of the Fed's actions is long overdue.

However, Musk's call for an audit did not receive universal support. Proponents of the Fed's autonomy argue that this independence allows the agency to make decisions based on economic data rather than political agendas, which is critical to long-term economic stability. Federal Reserve Chairman Jerome Powell has expressed concern about the potential consequences of Musk's proposals. Powell noted that auditing the Fed could undermine its independence and warned that increased political influence could jeopardize the Fed's ability to make unbiased decisions on monetary policy. Powell further warned that such intervention could eventually affect the Fed's role in managing key economic factors such as inflation and employment.

Fed officials highlight the impact of policy uncertainty on the economy

On Thursday local time, a number of Federal Reserve officials stressed in public speeches that although the overall performance of the U.S. economy is solid, there is still uncertainty about the path of inflation. In addition, the Trump administration's trade, immigration, and fiscal policies could have a significant impact on future economic trends.

St. Louis Fed President's view

St. Louis Fed President Alberto Musalem (Alberto Musalem said the Fed's monetary policy should remain "moderately restrictive" until inflation steadily returns to its 2% target. He warned that the process of falling inflation could stall or even reverse, and that risks were skewed to the upside.

Musalem noted that the current U.S. economy remains robust and the labor market remains strong. However, future adjustments in government policy may have a substantial impact on the economy. "Monetary policy needs to remain moderately restrictive until inflation returns to target," he stressed. Once the inflation path is confirmed, the policy rate can be gradually lowered to a neutral level. ”

Uncertainty caused by policy changes

Mousalem also mentioned that there is still uncertainty about the impact of policy changes. "Various changes in trade, immigration, regulatory, fiscal and energy policies, or changes in other economic environments, can have a significant impact on the economic path," he explained. "Therefore, the Fed must take these potential factors into account when formulating monetary policy and remain flexible in response to changing economic conditions.

Views on inflation and policy uncertainty

The recent rebound in US inflation data, with the January Consumer Price Index (CPI) showing a larger-than-expected increase in inflation, supports the Fed's cautious stance on cutting interest rates. St. Louis Fed President Alberto Musalem (Alberto Musalem said that from the latest inflation data, "more work is still needed to achieve price stability." ”

Atlanta Fed President's Forecast and Warning

Atlanta Fed President Raphael Bostic Bostic expects the Fed to cut interest rates twice in 2025, but he also warned that heightened policy uncertainty could impact the labor market and inflation. "There is a lot of uncertainty about the direction of some important factors at the moment," he stressed. Bostic referred to changes in trade, immigration, energy and fiscal policy, adding: "It is likely that I see it differently now than it will be six months from now." He believes that the Trump administration's policies could have different impacts on inflation and economic growth, so the Fed needs to be patient and wait for more data to confirm the trend.

Bostic pointed out that the U.S. economy has room to cut interest rates further, but it must maintain a balance between inflation and employment. He also mentioned that many companies are taking a wait-and-see attitude towards the new tariffs and taxes that the Trump administration may introduce. "Some companies believe that tax cuts and regulatory relaxation may be positive, but others are concerned that changes in trade and immigration policies will increase the cost of doing business." Bostic added: "There is widespread concern that tariffs will drive up costs, and that mass deportations of illegal immigrants could lead to labour shortages, especially in the construction and leisure industries. ”

Chicago Fed President's concerns

Chicago Fed President Austan Goolsbee (Austan Goolsbee) has also expressed concern about the Trump administration's tariff policy. Despite the overall positive trend of inflation in the United States, Goolsbee believes that if large-scale tariffs are implemented, it could trigger new supply chain shocks and lead to a rebound in inflation.

"For now, the CPI data is less than ideal, but the upcoming Personal Consumption Expenditures (PCE) price index is not expected to be as discouraging as the CPI," Goolsbee noted. However, he still stressed that future policy uncertainty is something that markets and the Fed must face. Goolsbee said the Trump administration's first-term tariff policy had a limited impact on inflation, mainly because it was narrower and included exemptions. But if the new round of tariffs is broader and more rate-rated, the impact could be similar to the supply chain shocks during the pandemic. "The impact of tariffs depends on the number and magnitude of the countries involved. If it's close to the COVID-era supply shock, it's something to be wary of. ”

Despite the current solid performance of the U.S. economy, Fed officials are cautious about the future path of inflation and policy changes. They stressed the importance of maintaining a moderately restrictive monetary policy, while alerting policymakers to the potentially complex implications of trade, migration, and other policy changes.