Musk's remark, made in reply to a post on the social media platform X, came after a series of weak data last week that raised concerns the Fed might have kept interest rates too high for too long, potentially harming the economy. Policymakers maintained the Fed's key overnight interest rate within the 5.25%-5.50% range last week but signaled a possible rate reduction at their September 17-18 meeting. Traders are increasingly confident that a cut will occur at that meeting. Fed Chair Jerome Powell stated on Wednesday that the central bank could lower rates next month if the U.S. economy progresses as anticipated, marking a potential end to over two years of fighting inflation, yet coinciding with the midst of the nation's presidential election campaign.