Elon Musk has never been one to shy away from contentious conversation topics, and his opinion on the Federal Reserve is no different.
In a Tweet that’s been viewed over 19.8 million times, Musk made a comment about the Federal Reserve’s decision to lower interest rates in 2009, following the recession in the U.S. in 2008.
I wonder what would have happened in 2009 if the Fed had raised rates instead of lowering them pic.twitter.com/uDGUqg4GKq
— Elon Musk (@elonmusk) January 14, 2023
“The higher the rates, the harder the fall,” Musk said in a second Tweet.
Musk referenced a chart that depicts the plummeting rates over the past 27 years.
A follower mentioned that Musk was lucky that Tesla was able to get an investor back around the time of the financial crisis.
“True, the Daimler investment in 2009 is actually what saved Tesla,” he said. “Ironically, the company that made the first commercially viable internal combustion engine car saved the company that made the first commercially viable electric car!”
Daimler AG acquired a 10% stake in the electric car company after a massive investment expanding upon a previous relationship where Daimler worked to integrate Tesla’s battery packs into its smart cars.
This isn’t the first time Musk has sounded off on interest rates and the fed amid ongoing inflation.
Last month, one of Musk’s Twitter followers attempted to blame the billionaire for Tesla’s $600 million market capitalization.
“We don’t control the Federal Reserve,” Musk responded bluntly. “That is the real problem here.”
Tesla was down over 64% in a one-year period as of Monday afternoon.