03-12-2022, 10:02 AM
https://news.bitcoin.com/elon-musk-warns...mediately/
Many people agreed with Musk. One tweeted: “Musk is actually right about this. Inflation is now primarily being driven by housing, and interest rates are so high at this point they’re crashing investment in home construction, threatening to worsen the underlying problem.” Another wrote: “Correct. Higher rates hurt people. The notion of rate increases as an inflation hedge has always been sketchy.” Some people said the Fed “should be abolished.”
In October, Musk said the recession could last until spring 2024. In August, he said that he believes inflation has peaked and we will be in a recession for 18 months. In September, the Tesla boss warned that a major Fed rate hike risks deflation.
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Many people agreed with Musk. One tweeted: “Musk is actually right about this. Inflation is now primarily being driven by housing, and interest rates are so high at this point they’re crashing investment in home construction, threatening to worsen the underlying problem.” Another wrote: “Correct. Higher rates hurt people. The notion of rate increases as an inflation hedge has always been sketchy.” Some people said the Fed “should be abolished.”
In October, Musk said the recession could last until spring 2024. In August, he said that he believes inflation has peaked and we will be in a recession for 18 months. In September, the Tesla boss warned that a major Fed rate hike risks deflation.
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