I imagine (without reading) that this is partly poke at Musk.
He is a fallible human and could potentially be wrong, fair enough. I'm no fanboy, but actually, I much prefer him to much of his detractors.
Partly, just the usual excuse for a massively inefficient private institution that bleeds taxpayer money. Not even a US citizen but anyone can see The Federal Reserve has the easiest ride of all.
But unlike expenses at federal agencies such as the State Department or the Pentagon, none of the Fed’s spending comes out of taxes paid by Americans. The central bank is a decentralized institution that funds itself rather than relying on appropriations by Congress to operate. In fact, it often sends money to the U.S. Treasury.
They fund themselves.
Cumulative losses are added to a “deferred liability” on the Fed’s balance sheet, which it must pay down to zero before beginning to send money to the Treasury again. As of last week, that balance was about $214 billion. The net loss doesn’t affect the Fed’s ability to operate: It can create new money out of thin air.
Short-term, that's certainly true. Long-term, we'd just have to take the many productive jobs that require our skills, but actually expect us to work hard (Yuck).
saveloading.