Elon Musk, Ackman, Schiff Warn US Fed, FDIC Ahead of FOMC Rate Hike

• The ongoing banking crisis has caused uncertainty in the financial markets, including the US.
• Bitcoin prices have spiked during this time, and US federal officials are exploring ways to insure deposits beyond the current $250,000 cap.
• Billionaires Bill Ackman and Peter Schiff have argued whether the Fed should pause or drop interest rates ahead of tomorrow’s FOMC statement.

Banking Crisis Sparks Uncertainty

The ongoing banking crisis has induced a lot of uncertainty in the financial markets around the world. The signs of a market recession continue to pop from the developed markets, including the United States. With the fear of more bank runs, confidence in Bitcoin, among other risky assets, has significantly spiked in the recent past. Moreover, Bitcoin price has printed its largest weekly gain amidst the banking crisis.

FDIC Deposit Insurance

Additionally, United States federal officials are exploring ways to allow the FDIC to temporarily insure deposits beyond the current $250,000 cap on most accounts without having to get approval from Congress. The U.S. banking system is currently insolvent thanks to the Fed and FDIC. Banks where much sounder under a gold standard and prior to the FDIC. $18 trillion in deposits „insured“ by $100 billion in Treasuries – creating potential risk for hyperinflation similar to Venezuela and Argentina which is expected to drive up demand for Bitcoin further into mainstream adoption and kickstart another parabolic crypto bull run .

Bill Ackman & Peter Schiff Arguments

Uncertainty from elite members continues as economists debate whether or not Fed should pause or drop rate ahead of tomorrow’s FOMC statement. Billionaire Bill Ackman believes that temporary FDIC deposit guarantee should be introduced instead of increasing rates whereas Peter Schiff argues that a pause will send dollar tanking with inflation soaring high and Fed trying aggressively raise rates may lead country into economic depression .

Potential Impact on Markets

The potential impact on markets due to these arguments can be unpredictable due rise in global debt levels higher than ever before making it difficult for central banks to contain inflationary pressure while trying maintain low interests rates which could further destabilize global economy if not handled properly .


In conclusion , it remains uncertain how Federal Reserve will decide upon their monetary policy statement tomorrow however both Bill Ackman & Peter Schiff have raised important points regarding this matter which must be taken into consideration before final decision is made regarding interest rate hike or decrease .