‘Too much latency’: Elon Musk slams the Fed for reacting too slowly to economic challenges

MarketsInsider/Zinya Salfiti/5-17-2023

“The Federal Reserve’s delayed reactions to policy challenges mean there probably will be a tough few months ahead for the economy, Elon Musk has said.… ‘Basically, the data is somewhat stale, so the Federal Reserve was slow to raise interest rates. And now I think they’re going to be slow to lower them,’ the Tesla, Twitter and SpaceX boss added.”

USAGOLD note: Musk goes directly to the heart of the matter. Is the culture at the Fed its own worst enemy? Musk has said that the Fed is too busy looking in the rearview mirror to see what’s ahead.