Musk blames Fed’s policy for eroding US dollar’s value ...Middle East

MOSCOW: American billionaire investor Elon Musk (pix) has blamed the US Federal Reserve’s tight monetary policy for hurting the US dollar’s position as a global safe-haven currency.“Serious issue. US policy has been too heavy-handed, making countries want to ditch the dollar,“ Musk wrote on social media.The tech investor was responding to an analysis by Genevieve Roch-Decter, chief executive of the Canadian capital market advisory firm Grit Capital, who warned that the US dollar was slowly losing its reserve currency status,reported Sputnik.The Fed hiked key interest rates to nearly 5 per cent in March in a bid to stem the soaring inflation that is reportedly running about three times higher

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