(Reuters) -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.

U.S. President Trump has tasked the Tesla and SpaceX CEO with leading efforts through the Department of Government Efficiency (DOGE) to cut government funding and reshape the federal bureaucracy.

Musk spoke on Wednesday at a briefing in the White House, several media outlets reported.

DOGE's mandate as a whole is set to continue to July 4, 2026. But Musk said DOGE could now help oversee the slashing of federal spending through the end of 2028, Axios reported, from the same briefing.