Tesla CEO Elon Musk responded to a post from Blackstone Group's global fixed income chief investment officer Rick Rieder (Rick Rieder), arguing that the Federal Reserve should start cutting interest rates.
Reed shared a chart on X and wrote, “This week's CIO chart: April CPI data shows signs of slowing down in several service sectors that have been hot this year. This positive development lends credibility to the idea that some excessive seasonal factors may have occurred in the first quarter, and keeps the possibility of interest rate cuts this year still open.”
In response, Musk said, “Do you think the Federal Reserve should lower interest rates? Will this provide substantial benefits to low-income earners? I understand you think so, and I agree with your position.”
