Elon Musk ‘meddling’ in German election, gas prices soaring, and more: Economics of the Week – Tesla (NASDAQ: TSLA )

This week has been filled with stories that set the business world abuzz. from Musk’s From controversial meddling in German politics to soaring gas prices due to freezing temperatures in the U.S., there’s no shortage of news. Let’s take a deeper look at the key stories that shaped the weekend.

Elon Musk accused of interfering in German elections

Tesla CEO Musk has been accused by the German government of trying to influence the upcoming federal election. Friedrich Merz, leader of Germany’s largest opposition party, called Musk’s support for the far-right Alternative for Germany (AfD) party “intrusive and self-righteous.”

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U.S. Freeze Leads to Higher Natural Gas Prices

Arctic explosions across the U.S. are causing a surge in heating demand and causing energy market turmoil. Natural gas futures rebounded sharply, with the February contract up more than 2%. The National Weather Center (NWC) predicts that coastal heavy rain and high-elevation snow will continue across much of the northwest United States

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Mortgage rates hit six-month high

The new year has brought little relief to would-be U.S. homebuyers as mortgage rates have surged to their highest levels in six months. The average interest rate on a 30-year fixed-rate mortgage climbed to 6.97% in the week ended December 27, 2024, the highest rate since early July.

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El-Erian highlights U.S. economic disparity

influential economist Mohamed Elyan Pointing out the stark contrast between America’s “economic exceptionalism” and the struggles of low-income families in what he calls the “K economy.” El-Erian highlighted the growing economic disparity in the United States and noted the growing challenges faced by low-income families.

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El-Erian warns Fed against overly restrictive policies

El-Erian expressed concerns about the Fed’s potential policy direction in 2025.

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This story was generated using Benzinga Neuro and edited by Anan Ashraf.