Newly declared Trump supporter Elon Musk criticizes the Fed's decision not to cut interest rates, suggesting Berkshire Hathaway unloading Apple stock as a sign of expecting a correction. He insists the Fed needs to drop rates, deeming it foolish not to do so already.
Federal Reserve Chair Jerome Powell hints at a possible rate cut in September, monitoring data and the economic outlook. U.S. markets face turmoil as major indices plummet, influenced by a June jobs report indicating a higher unemployment rate.
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