{"id":6099,"date":"2023-05-27T05:58:00","date_gmt":"2023-05-27T05:58:00","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=6099"},"modified":"2026-02-24T16:32:23","modified_gmt":"2026-02-24T16:32:23","slug":"elon-musks-say-on-failing-banks-cautioning-about-a-recession","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/","title":{"rendered":"Elon Musk&#8217;s Say on Failing Banks, Cautioning About a &#8220;Recession&#8221;"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">If you are wondering, where this is coming from? Then you might have noticed most of the reputed banks have failed back to back due to the bank\u2019s operational efficiency and the indirect effect of the FED increasing the interest rates. FED has increased the interest rates by almost 9 times since March 2022 to tame the overheating situation of the economy &#8211; that is Inflation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Addressing the situation, Elon Musk, the CEO of Tesla, Twitter, and SpaceX and the world&#8217;s second richest person, expressed his concern about a potential economic downturn if the Federal Reserve (FED) continues to raise interest rates. Musk stated that the economy could face a severe recession if the FED persists with rate hikes.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#Why_FED_is_increasing_the_interest_rate\" >Why FED is increasing the interest rate?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#Will_the_US_Economy_Shake_Due_to_the_US_Defaulting_on_the_Bills\" >Will the US Economy Shake Due to the US Defaulting on the Bills?<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#Elon_Musks_opinion_about_the_situation\" >Elon Musk\u2019s opinion about the situation\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#The_Psychology_of_Investors\" >The Psychology of Investors\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#What_is_it_for_investors\" >What is it for investors?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/#Fixed_Income_Outlook_%E2%80%93_2023\" >Fixed Income Outlook &#8211; 2023\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_FED_is_increasing_the_interest_rate\"><\/span><strong>Why FED is increasing the interest rate?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If you know a little about the FED monetary policy, then you must know this. The action of the FED is a response to the situation of the economy. The adjustment of the interest rates is for reasons like maintaining the stability of the prices in the economy and keeping employment amplified.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Federal Reserve adjusts interest rates upwards during periods of inflation and lowers them when unemployment rates are high. However, the Fed&#8217;s decisions can also be influenced by other economic challenges, and the above-said instance enhances the understanding of the concept. Nevertheless, the Federal Reserve&#8217;s dual mandate includes considering both inflation and employment when determining whether to raise or lower interest rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The federal funds rate is currently at 5 to 5.25 % although the agenda behind is to reduce inflation without igniting the recession but continuing to keep the interest rate higher can make borrowing costlier for both businesses &amp; consumers and can as well weaken the economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The working of it is more like a pebble leaving a ripple effect in the water, meaning it trickles other interest rates. But with the fear of defiling the economy, it might not increase the interest rates that higher as well.\u00a0<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Will_the_US_Economy_Shake_Due_to_the_US_Defaulting_on_the_Bills\"><\/span><strong><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/will-the-global-economy-shake-due-to-the-us-defaulting-on-bills\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Elon_Musk\">Will the US Economy Shake Due to the US Defaulting on the Bills?<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h2><span class=\"ez-toc-section\" id=\"Elon_Musks_opinion_about_the_situation\"><\/span><strong>Elon Musk\u2019s opinion about the situation\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">He warns of a severe recession as the pile of banks is dead and it stresses the economy. This statement is coming from the data he has from the companies he runs, giving real-time insight into the distress it can cause due to tightening.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The interest rates are hiked by 475 basis points for over a year and can put the economy in a recession. He says it is currently mild and may go to its severity especially causing a significant impact on the banking sector. He says that considering the most recent failure of First Republic, Credit Suisse, Signature Bank &amp; Silicon Valley.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Musk has written to FED more than 20 times about the recession stating the damage it could cause to the economy. And one such tweet stated, \u201c<\/span><i><span style=\"font-weight: 400;\">Every time Fed raises rates, they&#8217;re increasing monthly payments for anything bought with debt.<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s true borrowing becomes costlier and the purchases may drop. Larry Summers, the Ex Treasury Secretary stated that the chances of recession are at 70% now leading to slowing economic growth combined with higher inflation.<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"The_Psychology_of_Investors\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/the-psychology-of-investors-that-may-be-irrational\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Elon_Musk\"><strong>The Psychology of Investors\u00a0<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h2><span class=\"ez-toc-section\" id=\"What_is_it_for_investors\"><\/span><strong>What is it for investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As you may know, this is a crucial signal that an investor must look into. With the increased FED rates the bond yields are as well impacted and in turn, it can drop the bond prices, as you know with an increased interest rate, the prices of the bond fall as they have an inverse relationship between each other. The impact of this is seen on long-term bonds and hence in such cases holding a short-term bond seems more convenient and comfortable to avoid the interest rate risks.<\/span><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Fixed_Income_Outlook_%E2%80%93_2023\"><\/span><a href=\"https:\/\/goldenpi.com\/blog\/essentials\/fixed-income-outlook-2023\/?utm_source=blog&amp;utm_medium=blog&amp;utm_Elon_Musk\"><strong>Fixed Income Outlook &#8211; 2023\u00a0<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>If you are wondering, where this is coming from? Then you might have noticed most of the reputed banks have failed back&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[151],"tags":[],"class_list":["post-6099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-matters"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Elon Musk&#039;s Say on Failing Banks, Cautioning About a &quot;Recession&quot; - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"Elon Musk&#039;s Say on Failing Banks, Cautioning About a &quot;Recession&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/financial-matters\/elon-musks-say-on-failing-banks-cautioning-about-a-recession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk&#039;s Say on Failing Banks, Cautioning About a &quot;Recession&quot; 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