Tesla CEO Elon Musk warned that the Fed has been too slow to raise interest rates, and cutting them is likely to be very slow in the coming months.
"What worries me about the way the Fed makes decisions is that it has been working over too much time, whereas the Fed has been slow to raise rates, and will be slow to lower them," Musk said."
Musk revealed that the next 12 months will be difficult for Tesla and other companies from a macroeconomic perspective due to interest rate increases that reduce consumer budgets. "Raising interest rates is like putting pressure on the brakes of the economy, frankly, it makes a lot of things more expensive."
Source: (CNBC Arabic Website, Edited)
