"The Fed needs to drop rates," Billionaire Elon Musk wrote in a post on X, formerly Twitter

MARKET NEWS — Billionaire Elon Musk said Sunday the Federal Reserve was "foolish" to not have cut interest rates sooner in the wake of a lackluster jobs report that raised concerns about an economic slowdown. "The Fed needs to drop rates," Musk wrote in a post on X, formerly Twitter. "They have been foolish not to have done so already." Musk's comments come after the Federal Reserve held a policy meeting last week in which the central bank kept the target rate at a range of 5.25% to 5.5% – the highest level in 23 years that the Fed has held steady at since last July... foxbusiness.com