Ark Invest's CEO has warned that the Fed's actions could lead to another GreatDepression. Elon Musk agreed. inflation recession
Ark Invest CEO Warns Fed's Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees
She explained that the Federal Reserve raised interest rates “to squelch financial speculation” in 1929, followed by Congress passing the Smoot-Hawley Tariff Act in 1930, which put more than 50% tariffs on over 20,000 goods and pushed the global economy into the Great Depression. “If the Fed does not pivot, the setup will be more like 1929,” she warned. Tesla, Spacex, and Twitter boss Elon Musk concurred.
Inflation then dropped “precipitously in one year to negative 15% in June 1921,” Wood said, noting that “the Fed lowered interest rates from 7% in May 1921 to 4% in July 1922, tripping the switch for the Roaring Twenties.” The executive additionally shared:“Faced with much lower inflation this time around, the Fed has increased interest rates 16-fold, a serious mistake in our view,” she further opined.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The tech CEO spending millions to stop Elon MuskDan O’Dowd is on a one-man crusade to challenge what he sees as the cavalier development of dangerous technology, starting with Tesla’s ‘Full Self Driving.’
Leer más »
Elon Musk says disgraced FTX CEO set his ‘bulls–t meter off’Elon Musk claims he knew disgraced FTX founder and former CEO Sam Bankman-Fried was full of it.
Leer más »
Jesse Jacobs Joyride Pizza CEO and former CEO of Samovar Tea - San Francisco Business TimesThe founder and longtime CEO of Samovar Tea discusses his pandemic pivot to Detroit-style pies and the blistering growth of Joyride Pizza.
Leer más »
Elon Musk says Twitter bankruptcy is possible, but is that likely?Twitter regularly loses money. But Elon Musk took on billions in debt to buy the company at a time when online advertising is slumping. Could bankruptcy be next?
Leer más »
Crypto Can Help With Elon Musk’s Twitter Identity IssueCan crypto give Twitter the decentralized “town square” elonmusk is seeking? Frances Coppola shares her opinion on Twitter’s new CEO, encouraging him to look at decentralized solutions to the problems that he is rightly identifying.
Leer más »