Elon Musk says Fed must cut rates by at least 50 basis points
The FOMC will meet for two days on March 21 and 22 to take the rate decisions. Fed chair Jerome Powell had signaled that the quantum of hikes could be increased as the macroeconomic data still presents a picture of an upbeat economy.
This is not the first time Musk has called for rate cuts.
Elon Musk has called on the Fed to cut rates by at least 50 basis points in its Wednesday meeting.
"The @federalreserve should pause on Wednesday. We have had a number of major shocks to the system. Three US bank closures in a week wiping out equity and bond holders. The demise of Credit Suisse and the zeroing of its junior bondholders. Notably, bondholders bearing losses is a new phenomenon as they were protected in the GFC," Ackman tweeted.
Ackman further added that Jerome Powell should signal that his intent is to raise rates in the next meeting unless the banking crisis remains unresolved.
Elon Musk has called on the Fed to cut rates by at least 50 basis points in its Wednesday meeting.
"The @federalreserve should pause on Wednesday. We have had a number of major shocks to the system. Three US bank closures in a week wiping out equity and bond holders. The demise of Credit Suisse and the zeroing of its junior bondholders. Notably, bondholders bearing losses is a new phenomenon as they were protected in the GFC," Ackman tweeted.
Ackman further added that Jerome Powell should signal that his intent is to raise rates in the next meeting unless the banking crisis remains unresolved.
Bill only thinks that the Fed should stop raising interest rates, while Musk commented that interest rates should be cut by 50 basis points. What if Musk's prediction comes true? The financial industry still suppresses inflation, what is the top priority? will see
Should the Fed Rescue the Financial Industry or suppress inflation？
Should the Fed Rescue the Financial Industry or suppress inflation？
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