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Elon Musk says Fed must cut rates ‘immediately' to stop 'severe recession'

Terming the current trend as "concerning", Musk added that Fed is "massively amplifying the probability of a severe recession."

November 30, 2022 / 07:19 PM IST

Billionaire Elon Musk on November 30 sounded his concern over the arrival of a "severe recession" in the US. The Tesla and Twitter CEO took to Twitter to say that Federal Reserve needs to cut interest rates “immediately" to stop the recession.

Terming the current trend as "concerning", Musk added that Fed is "massively amplifying the probability of a severe recession."


He was replying to a tweet by Tasmanian co-founder Vincent Yu.


Later in the thread, NorthmanTrader founder Sven Henrich also echoed Musk's thoughts and stated that the Fed stayed "too easy for too long totally misreading inflation and now they've tightened aggressively into the highest debt construct even without accounting for the lag effects of these rate hikes risking they'll be again late to realize the damage done."