Musk, the owner of car manufacturer Tesla and social media platform X, has been tapped by Trump to lead the proposed Department of Government Efficiency (DOGE), with biotech entrepreneur and former Republican presidential candidate Vivek Ramaswamy, after vocally supporting and financially backing his campaign for president.

Musk has joined Trump’s calls with world leaders, weighed in on Cabinet choices and been a regular part of the Trump family since the election.

Elon Musk, the billionaire tasked with making the US government more efficient come January, has zeroed in on the Federal Reserve.