Billionaire Elon Musk is considering sending his government efficiency team to the Federal Reserve, Bloomberg News reported on Thursday, citing a costly renovation of the central bank's Washington DC headquarters as an example of potential government waste.

Elon Musk suggested his cost-cutting government project DOGE should take a closer look at the Fed’s spending, especially the $2.5 billion it has spent to remodel its Washington, D.C., headquarters. Musk’s comments come as he is set to “significantly” cut back on his time at DOGE, in part to focus on his EV company, Tesla.