Elon Musk calls on Fed to cut interest rates to reduce recession ‎risk

The CEO of the US electric car maker Tesla, Elon Musk, warned of a possible recession, expressing concern that the Federal Reserve’s attempts to reduce inflation would make it worse.

The Twitter owner, according to CNBC in a tweet, called on the Federal Reserve to “cut interest rates immediately” or risk “inflating the possibility of a severe recession.”

These comments came as part of an intervention in which a number of executives participated, including Vincent Yu, one of the founders of the Tasmanian company, and “Sven Henrich”, founder of the “Northman Trader” market research company, where Henrich indicated that the Federal Reserve Bank “has remained Too soft for too long as it completely misread inflation, and currently aggressively tightening monetary policy without calculating its impact. Once again, he is late in realizing the damage that has occurred.”

The richest person in the world criticized the US Federal Reserve on several occasions, pointing out their mistake regarding inflation estimation and its impact, stressing that they will realize their mistake later.