Elon Musk Sides With Wharton Professor Who Says Fed Being 'Real Tough Guys Until We Crush The Economy'
Elon Musk Sides With Wharton Professor Who Says Fed Being 'Real Tough Guys Until We Crush The Economy'
The U.S. Federal Reserve cast a pall on the financial markets by announcing a third straight 75-basis-point hike in the fed funds rate last week.
The U.S. central bank received flak from several quarters, and Wharton Professor of Finance Jeremy Siegel was particularly critical of the Fed in a recent CNBC interview. On Saturday, Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk endorsed the professor's view.
美国联邦储备委员会(Federal Reserve)上周宣布连续第三次上调联邦基金利率75个基点，给金融市场蒙上了一层阴影。
美国央行受到多个方面的抨击，沃顿商学院金融学教授杰里米·西格尔在最近接受CNBC采访时，他对美联储尤其持批评态度。周六，特斯拉，Inc.(纳斯达克代码:TSLA)首席执行官埃隆·马斯克赞同教授的观点。
What Happened: Siegel came down heavily on the Fed for not tightening monetary policy before inflation went out of control. Now, by tightening monetary policy aggressively, the central bank is making another mistake, he added.
发生的事情：西格尔严厉批评美联储没有在通胀失控之前收紧货币政策。现在，通过大举收紧货币政策，央行正在犯下另一个错误，他补充道。
"The last two years [are] one of the biggest policy mistakes in the 110-year history of the Fed, by staying so easy when everything was booming," Siegel said.
“过去的两年[是]这是美联储110年历史上最大的政策错误之一，在一切都很繁荣的情况下保持如此宽松的政策，“Siegel说。
To make his case, Siegel noted that when commodity prices were spiking, the Fed under Jerome Powell stood pat and now when the very same commodities and asset prices are on the way down, the central bank sees stubborn inflation that requires it to "stay tight all the way through 2023."
为了证明自己的观点，西格尔指出，当大宗商品价格飙升时，美联储在杰罗姆·鲍威尔目前，当同样的大宗商品和资产价格都在下跌时，中国央行认为通胀居高不下，这要求其“在2023年之前一直保持紧缩”。
See also: Cathie Wood Finds This 'Most Disappointing' About Fed's Move — Sounds Alarm Again On This Overlooked Factor
凯西·伍德对美联储的这一举措感到“最失望”--再次对这一被忽视的因素敲响了警钟
He also sees a recession materializing, with the working- and middle-class Americans paying the price.
他还认为，随着美国工薪阶层和中产阶级付出代价，经济衰退将成为现实。
"I am very upset," he said, adding, "It's like a pendulum. They were way too easy through 2020 and 2021." Now the Fed says, "We're going to be real tough guys until we crush the economy," he added.
“我非常不安，”他说，“这就像一个钟摆。他们在2020年和2021年的表现太轻松了。”现在美联储说，“在我们摧毁经济之前，我们将是真正的硬汉，”他补充道。
"I mean, that is just to me absolutely, poor monetary policy would be an understatement."
“我的意思是，这对我来说绝对是错误的，糟糕的货币政策是轻描淡写的。”
Musk Comments: Quote-tweeting the CNBC video, Musk said, "Siegel is obviously correct."
马斯克评论说：马斯克在推特上引用了CNBC的视频，他说：“西格尔显然是正确的。”
Siegel is obviously correct
— Elon Musk (@elonmusk) September 24, 2022
西格尔显然是正确的
-埃隆·马斯克(@elonmusk)2022年9月24日
Incidentally, ahead of the Fed's September rate hike, the billionaire said there is too much latency in Fed decisions, adding that it is problematic in a "fast-changing world."
顺便说一句，在美联储9月份加息之前，这位亿万富翁表示，美联储的决定存在太多延迟，并补充说，在一个“快速变化的世界”，这是有问题的。
He also previously commented on Ark Invest founder Cathie Wood's tweet about the Fed relying on lagging indicators and taking cues from the situation that prevailed in the 1970s, when the central bank aggressively raised rates to ward off inflationary pressure that was entrenched for about 15 years.
他之前还评论说方舟投资创始人凯西·伍德的在Twitter上发帖称，美联储依赖滞后的指标，并从上世纪70年代的情况中吸取线索，当时美联储积极加息，以抵御根深蒂固的通胀压力，这种压力已经根深蒂固了大约15年。
"Yes, the fundamental error is reasoning by analogy, rather than first principles," Musk said in reply.
“是的，根本的错误是类比推理，而不是基本原则，”马斯克回答说。
Photo: Courtesy of Tesla Owners Club Belgium on flickr
图片：比利时特斯拉车主俱乐部在Flickr上提供