Elon Musk Warns Of A Severe Recession

Elon Musk Warns Of Severe Recession On Further Rate Hikes

Replying to a tweet from American economist Larry H Summers, Elon Musk said further rate hikes will trigger a severe recession.

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Fed data has too much latency. Mild recession is already here, Musk tweeted.

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Lawerence tweeted that if the Fed does what's necessary to contain inflation, a slowdown is likely to come.

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The veteran American economist said there is a 70% chance that slowdown will come in the next 12 months

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Elon Musk has been warning against Fed rate hikes for a long time and that a recession is looming.

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The tech billionaire wrote between Tesla, Starlink & Twitter, he may have more real-time global economic data in one head than anyone ever.

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According to its median forecast last month, the Fed will hike interest rates just one more time in 2023 before the central bank ends its inflation battle.

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