Elon Musk, the creator of “SpaceX” and “Tesla,” lambasted the US Federal Reserve Step, which increased the country’s benchmark interest rate.
“The Federal Reserve raises interest rates more than is necessary. In my opinion, they will eventually realise this and lower interest rates once more.
In contrast to China, which is experiencing troubles in the real estate market, and Europe, which is having issues owing to high energy prices, Musk described the economic condition in the United States as being “pretty favourable.
Notably, the US Federal Reserve has increased interest rates since the start of the year in an effort to bring down inflation to 2%.
The Federal Reserve increased the interest rate by 0.75 percentage points over the previous three meetings.
From Novosti.
The US Federal Reserve is criticised by Elon Musk for the interest rate
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