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.
Cryptocurrency investors are closely watching the Federal Reserve’s interest rate decision set for tomorrow.
BlackRock Investment Institute is skeptical about the Federal Reserve implementing as many rate cuts as the bond market anticipates.
Billionaire Peter Thiel has expressed concern that the US economy would likely be in a recession if not for extensive government intervention.
A group of Democratic senators, led by Elizabeth Warren, is pressing Federal Reserve Chair Jerome Powell to implement a significant reduction in interest rates to protect the U.S. economy.