Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Musk’s warning followed an analysis by Ark Invest CEO Cathie Wood, who cautioned that “Leading inflation indicators like gold and copper are flagging the risk of deflation.”Tesla and Spacex CEO Elon Musk tweeted Friday evening that “A major Fed rate hike risks deflation.” His tweet has attracted much attention.
Comments flooded in with some agreeing with the Tesla CEO while others insisted he was wrong about the U.S. economy. Real Vision CEO and crypto investor Raoul Pal agreed with Musk, tweeting: “Yup. Pretty much baked in the cake.” Northmantrader founder and lead market strategist Sven Henrich stressed that the danger is the Federal Reserve being “obtuse to consequences.” He elaborated that the central bank was “Too slow to react in the first place” and is “now slamming the foot on the brakes,” emphasizing that the Fed is “too reliant on backward-looking data risking breaking things quickly.”It risks hyperinflation.
Politicians also chimed in on the conversation. Congresswoman Nancy Mace opined: “If [U.S. President Joe] Biden and [House Speaker Nancy] Pelosi hadn’t spent trillions of dollars we don’t have, we wouldn’t be having this conversation…” Federal Reserve Chairman Jerome Powell recently emphasized the central bank’s hawkish stance in his speech at Jackson Hole, Wyoming. He noted that the Fed’s fight against inflation will “
Source: Digital Coin News (digitalcoinnews.net)
why would deflation be a bad thing?
These are your 'geniuses'? Elon Musk and Cathy Wood 😂 The only glutton who has taken on more debt than Trump and the biggest investor in their debts. They have as much incentive to destroy the financial system as Vladimir Putin.
I won't be surprised. And I also won't be surprised to see bitcoin go down after the announcement.
Whether deflation is likely?
What is your opinion about this topic? Is deflation is very possible? Why? What are your opinion?👋🙂🧐
Is he still into doge?
Does Elon Musk also know about Monetary Economics? Has he know about the increase in dollar money base after 2008 and 2020?
DM
Yes, it will most likely happen.
Need take risk management
Investment on Qom & O childhood's End ShibaPredator1 ChildhoodsEnd_O
Bitcoin Bullish
We knew it! Macro doom is not yet over 😏
How much does he pay taxes?
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Why is nooboody talking aboout this?
Why are they keepinnnVUBO thiss a secret.?
So he’s telling you it’s coming 1.00 -1.25 move in near future. With elon it’s usually not too far away. Bill gates is usually a 8 months -2 years out with tips
Get more coins👉
Why you not talking aboout this!.
🚀 Thnks a millon.
How come no onee is talkingg about this
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Why are they keepinnn thiss a secret.?
Get more coins👉
How comee theyy don’t teachh us this in schoool?
Why don’t they want us to knoww thiss
🚀 Thnks a millon.
How come Uniswap allows this
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