Tesla CEO and the richest name in the world, Elon Musk, made predictions about the global economy. Sharing his predictions on his Twitter, Musk said, “If the Fed raises interest rates again next week, the recession will deepen significantly.” said. These statements of Musk were also a warning to Fed members.
The famous billionaire asked one of his followers, “How long do you think the recession will last?” In his answer to the question, he pointed to the year 2024. “The economy will probably start to get better in the second quarter of 2024,” Musk said. made his comment.
Fed rate decision on Wednesday
The US central bank will meet on December 13-14. The Fed will announce its interest rate decision on Wednesday, December 14. With less than five days left until the meeting, the expectation is that the interest rate will be increased by 50 basis points. According to FedWatch, the market sees a 77 percent probability that the Fed will raise interest rates by 50 basis points.
The expected halving in Bitcoin is in 2024
On the other hand, 2024 is an important year that Bitcoin investors are eagerly waiting for. As is known, the block reward halving in Bitcoin occurs every four years. The fourth of these halvings, also known as “halving”, will take place in May 2024. It is a common belief that halvings have a positive impact on the price of Bitcoin. The last block reward halving took place in May 2020.