Elon Musk berates the Federal Reserve for interest rates

Elon Musk has never been one to shy away from controversial topics of conversation, and his view of the Federal Reserve is no different.

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In a tweet that has been viewed more than 19.8 million times, Musk commented on the Federal Reserve’s decision to cut interest rates in 2009, following the 2008 U.S. recession.

I wonder what would have happened in 2009 if the Fed had raised rates instead of lowering them pic.twitter.com/uDGUqg4GKq

— Elon Musk (@elonmusk) January 14, 2023

“The higher the rates, the harder the fall,” Musk said in a second Tweet.

Musk referred to a chart that shows the declining rates of the past 27 years.

One follower said Musk was lucky that Tesla managed to get an investor back around the time of the financial crisis.

“It’s true, Daimler’s investment in 2009 is actually what saved Tesla,” he said said. “Ironically, the company that made the first commercially viable internal combustion engine car saved the company that made the first commercially viable electric car!”

Daimler AG acquired a 10% stake in the electric car company after a huge investment that builds on a previous relationship in which Daimler worked to integrate Tesla’s battery packs into its smart cars.

This isn’t the first time Musk has spoken out about interest rates and the Fed amid continued inflation.

Last month, one of Musk’s Twitter followers tried to blame the billionaire for Tesla’s $600 million market cap.

“We don’t control the Federal Reserve,” Musk said responded bluntly. “That’s the real problem here.”

Tesla wash downstairs more than 64% in a one-year period as of Monday afternoon.