Tesla (TSLA) CEO Elon Musk, who is currently leading the Department of Government Efficiency (DOGE), is continuing to make calls for greater transparency at the Federal Reserve, which suggests that he plans to audit the central bank. Indeed, he has been very vocal in recent weeks about the need for more accountability and first floated the idea of a Fed audit on February 9.
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Musk’s comments come after the White House signed a new executive order that looks to tighten the control of the Fed’s oversight of big banks. The order gives President Donald Trump’s appointees more power over independent agencies while maintaining the Fed’s control over monetary policy.
Unsurprisingly, Federal Reserve Chair Jerome Powell is concerned about the idea of auditing the Fed due to the potential for political pressure, which could limit the Fed’s ability to respond to crises. It is worth noting that the Fed is already audited each year by an independent public accounting firm, as well as by the Government Accountability Office and the Federal Reserve Board’s Office of Inspector General.
What Is the Prediction for Tesla Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company – Tesla. Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 12 Holds, and 10 Sells assigned in the past three months, as indicated by the graphic below. After a 76% rally in its share price over the past year, the average TSLA price target of $351.38 per share implies 1.2% upside potential.
