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Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession

From cnbc.com

Elon Musk thinks a recession is coming and worries the Federal Reserve’s attempts to bring down inflation could make it worse. In a tweet early Wednesday, the Tesla CEO and Twitter owner called on the Fed “to cut interest rates immediately” o r risk “amplifying the probability of a severe recession.” {tweet} The remarks came in an exchange with Tesmanian co-founder Vincent Yu in which several others participated. Later in the thread, NorthmanTrader founder Sven Henrich observes that the Fed “stayed too easy for too long totally misreading inflation and now they’ve tightened aggressively into the highest debt ... (full story)

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  • Category: Fundamental Analysis