Next US Federal Reserve rate hike will amplify recession: Elon Musk


Twitter CEO on Saturday said that the next US Federal Reserve rate hike will amplify the .

“If the Fed raises rates again next week, the will be greatly amplified,” he said in a tweet.

Several users expressed their thoughts on Musk’s post.

While one user commented: “No one seems to be noticing that the amount of power consolidated solely in Elon’s hands is alarming,” another said: “That’s true, but if the #Fed doesn’t raise rates #inflation will be greatly amplified, which will ultimately amplify the # even more.”

Last month, Musk had said that the US was inching towards a severe recession, and the Federal Reserve needs to stop hiking interest rates.

Musk said last week that the American central bank needs to immediately cut interest rates as a severe recession is looming.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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