
The U.S. Federal Open Market Committee starts a two-day monetary policy meeting on Tuesday. Ahead of it, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk took to Twitter to comment on inflation and interest rates.
What Happened: Ark Invest’s Cathie Wood tweeted last week that the Biden administration is going by what prevailed in the 1970s — when the Fed under Larry Summers had launched a relentless fight against inflation by hiking the policy rate. Inflation then had raged unhindered for 15 years before the Fed got into action, she said.