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The Street
The Street
Business
Tony Owusu

Elon Musk Reacts After Cathie Wood Criticizes a Major American Institution

Cathie Wood, founder and head of investment group Ark Invest, tweets a lot of support for Tesla CEO Elon Musk, so it's nice for him to acknowledge her work. 

Outside of tweeting about Tesla, Wood also likes to comment on the Federal Reserve and its plan to raise interest rates in order to cool the economy. 

DON'T MISS: Investors React Harshly to Cathie Wood's Bold New Tesla Predictions

"When will the Fed and economists start responding to the real world," Wood asked her 1.6 million followers. 

The Fed's interest rates are of the utmost importance to people who sell cars -- like Elon Musk, who wondered about the data the central bank is using. 

Wood had an answer for Musk's question, saying that the Fed is ignoring bad data in the real world. 

Musk only tweets at Wood, one of his biggest boosters, every once in a while, especially when she talks about one of his biggest interests -- cryptocurrency. 

"While the U.S. banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn't skip a beat," Wood tweeted in March. 

The reference to the 1920s seems to have triggered Twitter's head commenter Elon Musk, who took the time to comment on Wood's thread.

Musk did not expound on his comment, so we may never know what similarities the current year has to the U.S. just before the financial collapse and the Great Depression in 1929, but according to Musk, they are numerous. 

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