Elon Musk Fears Severe US Recession is Coming, Urges the Federal Reserve to Do This to Prevent It
Elon Musk, CEO of Tesla and Twitter, has called on the Federal Reserve to reduce curiosity fees to avert a possible major economic downturn as the US economic system faces the likelihood of a extreme economic downturn.
In reply to a tweet that said a real financial recession is coming in 2023, Musk agreed that the latest economic pattern is regarding.
The dialogue was before long joined by other commentators, like Sven Henrich, the founder and direct market strategist of NorthmanTrader.
“The Fed stayed much too simple for also extended thoroughly misreading inflation and now they have tightened aggressively into the highest credit card debt assemble ever without the need of accounting for the lag results of these level hikes risking they’ll be once more late to notice the injury finished,” the businessman added.
Although most of the social media platform’s consumers who contributed to the thread appeared to agree with the entrepreneur’s see on the financial outlook for the U.S., some commentators voiced their disagreement.
“The Fed’s job is not to guard portfolio of millionaires and billionaires. It can be to aid performing family members affording food items and shelter. The Fed has a $9T equilibrium sheet and there are 11M open careers and performing g people are enduring true suffering with inflation.Stop getting egocentric,” tweeted consumer PatsNuggets.