Elon Musk criticized the Fed over 20 times, accusing it of raising interest rates to high levels. This is a list of all his criticisms against the central bank.

[TAG0][TAG1]

• Elon Musk has criticised the Fed's rate hikes over 20 times in the last seven months.
• Tesla's CEO has said that they are unnecessary, dangerous and harmful for companies.
• Musk warned that higher interest rates could cause a credit crunch by putting pressure on banks.

Elon Musk has criticized the Federal Reserve for raising interest rates too aggressively more than 20 time in the last seven months.

The Fed raised its benchmark interest rate in the last 14 months from almost zero to 5%. This was done to combat historic inflation. Musk, the CEO of Tesla and Twitter and SpaceX, has said that the rate hikes were not needed and are increasing the risk of recession. They also hurt Tesla's stock price and make its vehicles more expensive.

He has also warned against a credit crisis, saying that higher interest rates could put pressure on banks. In tweets, Tesla's earnings call, and media interviews, he has criticized the central bank.

Here is a summary of Musk's criticisms against the Fed over the last 7 months:

1. "A major Fed rate hike risks deflation." (September)

2. The Fed is raising rates more than it should. I believe they will eventually realize this and lower them again. "The Fed doesn't listen because they are looking in the rearview instead of out the front window." (October)

3. Fed must cut rates immediately. They are accelerating the likelihood of a severe economic recession. (November)

4. If the Fed increases rates again next Monday, the recession would be intensified. (December)

5. "Tesla's performance is better than ever!" We do not control the Federal Reserve. "That is the real issue here." (December)

6. "I'm always saying the Fed rate is insane because I see data that says we're in deflation." (December)

7. "At the risk of sounding obvious, debt is a bad idea in macroeconomic turmoil, particularly when Fed continues to raise rates." (December)

8. These Fed rate increases could be the most damaging in history. (December)

9. "I'm blown away that the Fed raised rates so much. The Fed drives the economy by using a three-month old video of the rearview. This is not the best way to drive on a windy, cliff-side road. "I think we're going to have a rough landing." (December)

10. "I wonder what 2009 would have been like if the Fed raised rates rather than lowered them." (January)

11. The higher the rate, the more difficult the fall. (January)

12. The increase in the fed rate makes cars more expensive for consumers and increases the difficulty level for automobile companies. (January)

13. Every time the Fed increases rates, they increase monthly payments for any debt-purchased item. (January)

14. This role requires a high level of expertise in monetary policy. "A bad Fed decision impacts the lives of all." (February)

15. The Fed's data is way too late. "Rates need to be lowered immediately." (March)

16. "We are wrong again, The Fed is confident." (March)

17. Fed needs to lower the rate at least by 50bps on Wednesday. (March)

18. This foolish rate hike will worsen depositor flight. This stupid rate hike will worsen the depositor flight." (March)

19. You're welcome. Now if you were actually the head of the Fed! (April)

20. "Each time the Fed increases interest rates, it's like increasing the cost of a vehicle. Most people's ability to purchase a vehicle is determined by whether they can afford the monthly payments. When interest rates are high, as they are now, some people may not be able to get a loan. (April)

21. The Federal Reserve's data is too late. (April)

—————————————————————————————————————————————
By: tmohamed@insider.com (Theron Mohamed)
Title: Elon Musk has called out the Fed more than 20 times for hiking interest rates too much. Here’s a roundup of his attacks on the central bank.
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-price-fed-interest-rates-recession-twitter-2023-4
Published Date: Fri, 28 Apr 2023 12:28:58 +0000

Related posts:

Elon Musk’s argument about Tesla stock falling because the Fed has raised interest rates is flawed. Elon Musk predicts a US depression next year that could last 18-months — and warns investors about being cautious Elon Musk warns stock prices could fall, promises not to sell Tesla stock next year and attacks the Fed during a new interview. Here are the top fourteen quotes. Tesla bull Gary Black, who rebuts recession claims, says investors don’t pay attention to Elon Musk on economics.