The past week was a rollercoaster ride for the financial world. From Elon Musk‘s dire warnings about the U.S. debt to Jerome Powell‘s firm stance on interest rates, the week was filled with significant events that could shape the future of the global economy. Here’s a quick recap of the top stories.
Musk Warns Of ‘De Facto’ Bankruptcy
Billionaire entrepreneur Elon Musk, CEO of Tesla Inc., raised concerns about the U.S. fiscal outlook. Musk warned that the U.S. is on the brink of “de facto bankruptcy” as the federal debt surpasses $37 trillion, with interest payments now accounting for a quarter of all tax revenue.
Powell Holds Steady On Interest Rates
Federal Reserve …