US Federal Reserve (FRS) discount rates are too high. This was stated by the American billionaire founder of Space X, Elon Musk, at the presentation of the quarterly results of his Tesla Corporation.
“The Fed is raising interest rates more than they should. I think they will eventually understand and lower the stakes again. ” Said the businessman.
Elon Musk called the current state of the North American economy “good enough” compared to the countries of the European Union, which are faced with high inflation and rising energy costs, as well as problems in relations with China.
Note that since the beginning of this year the Fed has consistently raised the key rate to bring high inflation to the 2% target. Analysts expect the rate to hike at the same pace in November to 3.75-4% per annum.
Earlier, JPMorgan CEO Jamie Dimon said the US could face a recession six months later.
