Elon Musk Fears Economic Disaster if This Is Not Done Immediately
The richest man in the world runs five companies. And he never hesitates to let the world know what he thinks.
The economy's health remains the main subject of concern for consumers and investors, who just about every week see another wave of corporate job cuts.
Powell broke from the agreed Fed statement earlier this month, following the central bank's fourth consecutive 75-basis-point rate hike. He insisted to reporters that it was too soon to consider pausing rate hikes, even as the Federal Open Market Committee's clearly indicated that smaller increases, with an eye toward peak rates, would likely be required in coming months.
This is not the first time that Musk has warned of the consequences of rising interest rates for the economy. Last September, the entrepreneur warned that a jumbo interest rate increase would cause long-term deflation.
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