Elon Musk is keen on auditing the Federal Reserve, the independent agency that makes critical decisions on interest rates that reverberate throughout the US economy.

The operation was driven with a frenetic focus by the billionaire, who channeled his resentment of regulatory oversight into a drastic overhaul of government agencies.

Federal employees from the Consumer Financial Protection Bureau (CFPB) have raised concerns that the bureau’s Trump-appointed leadership and Elon Musk’s Department of Government Efficiency (DOGE) intend to execute massive layoffs.

Employees testified that CFPB leaders and Elon Musk’s DOGE want to wind down the agency to five employees, the minimum required under law.