Elon Musk criticized the Fed for not lowering interest rates, citing weak economic data.
Tesla CEO Elon Musk criticized the Federal Reserve for not lowering interest rates, calling their decision "foolish." His comments followed weak economic data that raised concerns about the potential damage to the economy if rates remain elevated. The Fed has signaled a possible rate cut in the near future, which could mark the end of a two-year battle against inflation. Traders are now betting on a rate cut at the Fed's September 17-18 meeting.
August 04, 2024
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