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.
美國聯邦儲備委員會(Federal Reserve)上週宣佈連續第三次上調聯邦基金利率75個基點，給金融市場蒙上了一層陰影。
美國央行受到多個方面的抨擊，沃頓商學院金融學教授傑裏米·西格爾在最近接受CNBC採訪時，他對美聯儲尤其持批評態度。週六，特斯拉，Inc.(納斯達克代碼:TSLA)首席執行官埃隆·馬斯克贊同教授的觀點。
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.
發生的事情：西格爾嚴厲批評美聯儲沒有在通脹失控之前收緊貨幣政策。現在，通過大舉收緊貨幣政策，央行正在犯下另一個錯誤，他補充道。
"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.
“過去的兩年[是]這是美聯儲110年曆史上最大的政策錯誤之一，在一切都很繁榮的情況下保持如此寬鬆的政策，“Siegel説。
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."
為了證明自己的觀點，西格爾指出，當大宗商品價格飆升時，美聯儲在傑羅姆·鮑威爾目前，當同樣的大宗商品和資產價格都在下跌時，中國央行認為通脹居高不下，這要求其“在2023年之前一直保持緊縮”。
See also: Cathie Wood Finds This 'Most Disappointing' About Fed's Move — Sounds Alarm Again On This Overlooked Factor
凱西·伍德對美聯儲的這一舉措感到“最失望”--再次對這一被忽視的因素敲響了警鐘
He also sees a recession materializing, with the working- and middle-class Americans paying the price.
他還認為，隨着美國工薪階層和中產階級付出代價，經濟衰退將成為現實。
"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，”他説，“這就像一個鐘擺。他們在2020年和2021年的表現太輕鬆了。”現在美聯儲説，“在我們摧毀經濟之前，我們將是真正的硬漢，”他補充道。
"I mean, that is just to me absolutely, poor monetary policy would be an understatement."
“我的意思是，這對我來説絕對是錯誤的，糟糕的貨幣政策是輕描淡寫的。”
Musk Comments: Quote-tweeting the CNBC video, Musk said, "Siegel is obviously correct."
馬斯克評論説：馬斯克在推特上引用了CNBC的視頻，他説：“西格爾顯然是正確的。”
Siegel is obviously correct
— Elon Musk (@elonmusk) September 24, 2022
西格爾顯然是正確的
-埃隆·馬斯克(@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."
順便説一句，在美聯儲9月份加息之前，這位億萬富翁表示，美聯儲的決定存在太多延遲，並補充説，在一個“快速變化的世界”，這是有問題的。
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.
他之前還評論説方舟投資創始人凱西·伍德的在Twitter上發帖稱，美聯儲依賴滯後的指標，並從上世紀70年代的情況中吸取線索，當時美聯儲積極加息，以抵禦根深蒂固的通脹壓力，這種壓力已經根深蒂固了大約15年。
"Yes, the fundamental error is reasoning by analogy, rather than first principles," Musk said in reply.
“是的，根本的錯誤是類比推理，而不是基本原則，”馬斯克回答説。
Photo: Courtesy of Tesla Owners Club Belgium on flickr
圖片：比利時特斯拉車主俱樂部在Flickr上提供