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Tesla CEO Elon Musk, Predict Upcoming Recession and Inflation

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  • At the recent meet-up of Tesla shareholders, Elon Musk predicted about the US economy.
  • Mild recession will seen in the next eighteen months while the inflation is at its peak.

Musk’s Prediction on Recession and Inflation

Musk and his team clarified that, “a good view of where the prices of things are going over time.” The following statement given in the recent meeting of Tesla shareholders. Musk also discussed the major economic problems of the US. Even the Federal Reserve (FED) increased its interest rates on inflation. And it supposed to be done to deal with the highest inflation in forty years.

The rise in the interest rates influenced major industries, including the crypto world. The other things that affect inflation are the ongoing Russia-Ukraine war and bad relations with China. All these factors affect the US economy as per the top economists belief. And the US is going to enter into its major period of economic recession and inflation.

The belief of Elon Musk related to the future of the US economy is strong. As he stated that the upcoming crisis affects major bankruptcy and will tend to the end of 2023. The way Musk showed confident clears about the scenario will not perform bad as many other projects. In spite of this, he added, “making macroeconomic forecasts is a recipe for disaster.”

According to Musk, the upcoming crisis would be “relatively mild.” Adding to his statement, “The debt that companies have now is relatively low, so I would probably say, a mild to moderate recession, maybe 18 months or so.” On the other hand, he spoke about inflation, as it “falls rapidly.”

He added that, “We get a lot of information about where the prices of things are going over time because when you make millions of cars, you have to buy goods many months ahead of when they needed… Because it’s a long supply chain with a huge amount of inertia, so we have some sort of idea of where prices are heading over time. The interesting thing we’re seeing now is that most of our commodities, most of the things that go into a Tesla – not all, but more than half – prices are falling in six months, six months from now.”

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