According to Elon Musk, the Federal Reserve needs to cut interest rates now because there is a risk of heading into a severe recession
Elon Musk clashes with the Fed
For the entrepreneur of Tesla, SpaceX and now also the new owner of Twitter, it is a decidedly challenging time for a variety of reasons, not only in taking care of his own companies but recently also because of fears of a recession just around the corner.
“The trend is worrying. The Fed needs to cut interest rates immediately. They are massively amplifying the likelihood of a major recession.”
With these words, Elon Musk in September warned Twitter’s new employees in his cover letter preparing them for major and decisive challenges.
The concept expressed to his employees went hand in hand with the thoughts of Cathie Wood of Ark Invest on the risk of deflation.
The labor market and less-than-tight inflation are keeping the US economic fabric afloat despite another rate hike in sight ranging from 50 to 75 basis
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