{"id":15803,"date":"2022-12-24T03:34:20","date_gmt":"2022-12-24T03:34:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/recent-fed-rate-hikes-might-go-down-in-history-as-most-damaging-ever-economics-bitcoin-news\/"},"modified":"2022-12-24T03:34:20","modified_gmt":"2022-12-24T03:34:20","slug":"recent-fed-rate-hikes-might-go-down-in-history-as-most-damaging-ever-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/recent-fed-rate-hikes-might-go-down-in-history-as-most-damaging-ever-economics-bitcoin-news\/","title":{"rendered":"Recent Fed Rate Hikes Might Go Down in History as Most Damaging Ever \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Tesla CEO and Twitter chief Elon Musk says the Federal Reserve\u2019s recent rate hikes \u201cmight go down in history as most damaging ever.\u201d The billionaire has urged the Fed to cut interest rates immediately, emphasizing that the U.S. central bank is \u201cmassively amplifying the probability of a severe recession.\u201d
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Elon Musk on Fed Rate Hikes<\/h2>\n

Tesla, Spacex, and Twitter boss Elon Musk warned Thursday about the damaging impact of the Federal Reserve rapidly raising interest rates.<\/p>\n

His warning was in reply to a tweet<\/a> by former investment manager Genevieve Roch-Decter stating that \u201cthe Fed has never raised rates faster\u201d than this year. Musk wrote:<\/p>\n

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At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever.<\/p>\n<\/blockquote>\n

Roch-Decter also included a chart with her tweet showing that the Fed has hiked interest rates further and faster this year than at any other time in modern history.<\/p>\n

\"Elon<\/a><\/p>\n

Many people agreed with Musk. \u201cI agree, Elon. The mortgage industry is taking a blood bath. Good professionals like me (marketing) laid off. Applications at historic lows. This is a disaster,\u201d one Twitter user wrote. Another described: \u201cThis is what happens when the government artificially infuses $3.5 trillion into the U.S. economy. The Fed makes up for it in damaging interest hikes \u2026 It\u2019s going to get worse.\u201d<\/p>\n

Musk also blamed the Federal Reserve for Tesla\u2019s loss of market value. Investment advisor Ross Gerber tweeted last week: \u201cElon has now erased $600 billion of Tesla wealth and still nothing from the Tesla BOD [board of directors]. It\u2019s wholly unacceptable.\u201d Musk replied:<\/p>\n

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Tesla is executing better than ever. We don\u2019t control the Federal Reserve. That is the real problem here.<\/p>\n<\/blockquote>\n

The billionaire has warned several times about the risks of the Federal Reserve hiking interest rates. Earlier this month, he cautioned that the recession will be greatly amplified<\/a> if the Fed raised interest rates again. The central bank then raised rates by 50 basis points<\/a> following four consecutive 75-basis-point hikes.<\/p>\n

Last month, Musk warned that the \u201ctrend is concerning,\u201d emphasizing that the Fed \u201cneeds to cut interest rates immediately<\/a>.\u201d He added: \u201cThey are massively amplifying the probability of a severe recession.\u201d The billionaire also previously said that he believes the recession<\/a> will last until the spring of 2024.<\/p>\n

What do you think about the warning by Tesla CEO Elon Musk about the Fed\u2019s rate hikes? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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