So because Microsoft's board assumes that consumer demand is due to weaken (as a result to the raised Fed rates), they laid off 10,000 people. So we can most li

So because Microsoft's board assumes that consumer demand is due to weaken (as a result to the raised Fed rates), they laid off 10,000 people. So we can most likely assume those people were not bringing a lot of value to the company. So it's not that the Fed rate affects Microsoft directly, because they don't really have any loans/processes where they need to get loans/debt at the Fed rate. It's that they will be affected by lower consumer demand.