Elon Musk Says 'Bad Fed Decision' Affects Lives Of Everyone: 'Maximum Skill With Monetary Policy Extremely Important'

Tesla and Twitter CEO Elon Musk believes the head of the Federal Reserve should be someone with crucial experience in handling monetary policy as any incorrect decision by the central bank has the potential to impact lives.

"Maximum skill with monetary policy is extremely important in this role! A bad Fed decision affects the lives of everyone," Musk tweeted in reply to American commentator Katie Pavlich's comments on the next Fed chief role.

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Pavlich was apparently commenting about White House Press Secretary Karine Jean Pierre's recent briefing. However, Pierre appeared to be replying about vacancies of the Federal Reserve Vice Chair and the Labor Secretary during which she remarked about the diversity factor.

The White House Press Secretary said diversity and representation are important for President Joe Biden and that the process will be continued.

“The President is going to look at a highly diverse group of world-class economists, just as we did for the previous Fed nominations. So, we're going to continue that process," she said during her briefing.

"…he will continue not just with this Fed — the Fed Vice Chair occupancy but with any occupancy or any position that's within the White House.”

Criticism: The central bank has come under a lot of criticism for having considered the inflation transitory and acting late on containing what would go on to become a decades-high price rise.

On Thursday, JPMorgan Chase CEO Jamie Dimon said reining-in inflation is a work in progress for the Federal Reserve while stating that "we lost a little bit of control of inflation."

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