The global financial market is under tremendous pressure in the expectation of the U.S. Federal Reserve System increasing interest rates. However, the world’s richest man, Elon Musk has suggested some measures in order to avoid the probable recession.
Vincentyu, a Tesla investor highlighted that he expects a real economic recession in 2023. He asked the people to be prepared for any macro storm ahead.
To this Elon Musk said that this trend is concerning. It is important that Fed needs to cut interest rates immediately. He added that by not doing this Fed is massively amplifying the probability of a severe recession ahead.
Sven Henrich, Macro and Technical Analyst highlighted that ironically the fed continues to project positive GDP growth for the years ahead. It is ignoring all the obvious signs that they did the same in 2008. He added that in panic they always cut rate but the recession impact is already here.
The analyst mentioned that the Fed has stayed too easy for too long now. This is totally misreading inflation and as of now, they have tightened aggressively into the highest debt construct ever. This is done without even accounting for the lag effects of these rate hikes risking.
Elon Musk agreed with this comment about the current situation of the global economy. However, this comment has ahead of the Fed Chair Jerome Powell at a US event on the outlook for the economy.
Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market…
The crypto market has, for a while now, been pricing a potential 25 basis points…
Rowe Price has filed for its first actively managed crypto exchange-traded fund (ETF). It is…
Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…
Crypto ownership is a topic that has been discussed across major forums globally in the…
Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…