Elon Musk criticized the US Fed’s interest rate hike

The founder of “SpaceX” and “Tesla” Elon Musk criticized the actions of the US Federal Reserve, which raised the key interest rate in the US.

And Musk figured that “The Fed is raising the interest rate more than necessary… and I think they’ll figure it out eventually and cut the interest rate again.”

Commenting on the US economic situation, Musk described it as “pretty good,” in contrast to Europe, which is facing problems due to high energy prices, and China, which is experiencing problems in the real estate market.

It is noteworthy that the US Federal Reserve has been raising interest rates since the beginning of the year to bring inflation down to 2%.

During the last three meetings, the Federal Reserve raised interest rates by a total of 0.75 percentage points.

Source: RIA Novosti