Elon Musk has warned that the Federal Reserve will raise interest rates too aggressively this month, in an attempt to crush inflation, that will lead to a resounding decline in prices, which will cast a shadow over companies.
“A big Fed rate hike threatens to deflate,” the Tesla and SpaceX CEO said in a tweet.
The Fed raised its benchmark interest rate from near zero in March to between 2.25% and 2.5% today, in response to inflation rising to a 40-year high this year. The US central bank did not rule out a third consecutive hike of 0.75 basis points later this month.
Source: Arabic
