Elon Musk Hints Of “Severe Recession” Ahead If Fed Fails To Do This
The global financial market is under tremendous pressure in the expectation of the U.S. Federal Reserve System increasing interest rates. However, the world’s richest man, Elon Musk has suggested some measures in order to avoid the probable recession.
Elon Musk suggests this measure to avoid recession
Vincentyu, a Tesla investor highlighted that he expects a real economic recession in 2023. He asked the people to be prepared for any macro storm ahead.
To this Elon Musk said that this trend is concerning. It is important that Fed needs to cut interest rates immediately. He added that by not doing this Fed is massively amplifying the probability of a severe recession ahead.
Sven Henrich, Macro and Technical Analyst highlighted that ironically the fed continues to project positive GDP growth for the years ahead. It is ignoring all the obvious signs that they did the same in 2008. He added that in panic they always cut rate but the recession impact is already here.
Is too late now?
The analyst mentioned that the Fed has stayed too easy for too long now. This is totally misreading inflation and as of now, they have tightened aggressively into the highest debt construct ever. This is done without even accounting for the lag effects of these rate hikes risking.
Elon Musk agreed with this comment about the current situation of the global economy. However, this comment has ahead of the Fed Chair Jerome Powell at a US event on the outlook for the economy.
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
