In recent developments, a surprising alliance between presidential candidate Donald Trump and Tesla’s Elon Musk has emerged, marked by mutual endorsements and shared views.
Musk has championed Trump’s potential presidency as a critical opportunity to address the U.S.’s mounting debt crisis.
In a recent interview on the All-in Summit podcast, Elon Musk praised Trump’s candidacy as a pivotal chance to implement necessary government reforms and prevent national bankruptcy.
.@elonmusk live at the all-in summit! https://t.co/ydbJcuAsGJ
— The All-In Podcast (@theallinpod) September 9, 2024
Musk has long criticized U.S. fiscal policies, particularly the excessive defense budget, which he believes contributes significantly to the national debt.
Moreover, Trump has proposed that Musk lead a new government efficiency commission to root out fraud and improve accountability within federal programs.
Musk has expressed readiness to take on this role, emphasizing his commitment to public service without seeking financial compensation.
After the long-awaited rate cut by the Federal Reserve, the crypto market started showing signs of recovery.
Federal Reserve meetings usually follow a predictable pattern, but this week’s Federal Open Market Committee (FOMC) gathering was shrouded in uncertainty.
At the Token2049 event on September 18, Arthur Hayes, co-founder of BitMEX, warned that upcoming interest rate cuts by the U.S. Federal Reserve could trigger a major downturn in the crypto market.
Cryptocurrency investors are closely watching the Federal Reserve’s interest rate decision set for tomorrow.