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Elon Musk Warns America That Joe Biden’s Fed Will Tank Economy Because Of Poor Monetary Policy

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Elon Musk issued a warning to the American people that the federal reserve is tanking the US economy. When Biden and his team were ignoring inflation and telling us not to believe our lying eyes and lighter wallets, the Fed sat on their hands and did nothing.

But as costs skyrocketed and Biden’s poll numbers tanked the Fed stepped in to try to bring inflation under control. But they were too late because everything is falling now, except some food items that were impacted by Biden’s earlier mismanagement of the energy market.

So Musk and others believe Biden and his team may bring about dreaded deflation before they wake up to the reality of their poor policy choices. Wharton Business School professor Jeremy Siegel said:

“It’s like a pendulum. They were way too easy, as I’ve told you and many others, through 2020, 2021. And now, Oh my God, we’re going to be real tough guys until we crush the economy.

“Poor monetary policy would be an understatement.

“Honestly, I think Chairman Powell should offer the American people an apology for such poor monetary policy that he has pursued, and the Fed has pursued, over the past few years.

“Chairman Powell talked quite a bit about JOLTS data — the job opening and labor turnover data. How tight it is.

“Interesting thing, I look back a year ago September, it was exactly as tight as it is today.

“And he never said anything about inflation. What’s caused him to change his mind?

“It’s the same data.

“It seems to me wrong for Powell to say we’re going to crush wage increases, we’re going to crush the worker, when that is not the cause of the inflation.

“The cause of the inflation was excessive monetary accommodation for the last two years,” he said.

“Siegel is obviously correct,” Musk said in response to Siegel.

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