Elon Musk says Fed foolish not to have cut interest rates
- Billionaire Elon Musk said on Sunday the Federal Reserve needs to cut interest rates and that it was foolish for the U.S. central bank not to have done so already.
Policymakers left the Fed's benchmark overnight interest rate unchanged in the 5.25%-5.50% range last week, but opened the door to a rate cut at their Sept. 17-18 meeting. Traders are betting a cut is almost certain to happen at that meeting.
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