Elon Musk warns of severe recession – urges Fed to cut interest rates immediately

Tesla CEO and Twitter chief Elon Musk on Wednesday issued a warning of a deep recession in the US, tweeting that a real economic recession is expected in 2023 and that the trend is concerning, stressing that the Federal Reserve should “immediately” deal with it. Now the situation is decided. It is said that the recession can last till the spring of 2024. In August, he said he believed inflation had peaked and that we would be in a recession for 18 months. In September, the Tesla boss warned that a major Fed rate hike would spur calls for a rate cut and asserted that the prospect of a severe recession was widely accepted by investors and economists and that But it becomes the responsibility of the Fed to act as soon as possible. Responding to Vincent Yu, Tesla chief Elon Musk wanted this warning and made it clear that the Central Bank of America will have to cut interest rates at any cost so that the Great Recession is not likely and investors will be overpriced. Don’t have to bear the loss. He also said that this recession can be dangerous at the global level, that’s why we have to cut the interest rates for its prevention and its treatment.
Sven Henrik, founder and chief market strategist at Northmuntrader, joined the discussion and responded to Elon Musk and Yu saying that it is an irony that the central bank continues to ignore and ignore the obvious ant copy despite all the signals. He said that something similar had happened in the year 2008 as well and this period is being repeated again. According to him, once a recession hits, they will, as usual, report on rate cuts and then blame unforeseen circumstances that are not attributable to them in any way. In another tweet, Heinrich also said that the Fed has been too easy on its totally wrong policies and inflation for too long and is now engaging in the highest ever debt creation process without accounting for the impact of interest rate hikes. Due to which they will again be late in realizing the loss and by then many things will have gone wrong. Kasturi agreed and appreciated it and justified this statement as absolutely correct.
Many people agree with Musk and were tweeting via twitter that Elon Musk’s statement is absolutely correct and in our interest where inflation is mainly driven by housing and interest rate is so high at the moment that the investments that are being made in housing are going to crash and everything is going to get worse because of the problem where as the other said that is absolutely correct because the higher level is directly made for loss and it only leads to loss . He added that the notion of raising rates as a hedge against inflation was always sketchy and that some argued the Fed should be abolished.
In October, Musk said the Great Depression could last until the spring of 2024, and in August he said he believed inflation had peaked and would be in a recession for 18 months, and in September Tesla boss Elon Musk also said that if the tree hikes interest rates it threatens deflation.
Really we can say that the concern of the individual by the great industrialists of the world is natural which explains everything about the Great Depression. Where according to them raising the interest rates is a clear indication that the economy will be hurt simply and directly and no one will be able to do anything while the central bank Fed goes along with this decision it will surely hurt the economy and investors. Will not be good in any respect and will shy away from investing which cannot be a great result in any industry or any field, that’s why everyone requests Fed to remove interest rates and provide some comfort. In fact if this happens then we have to be ready to face its serious consequences which can be quite depressing and even the central bank is aware that its consequences can be dangerous but still there is no solution But serious problems can arise which are difficult to explain. Therefore, through their tweets, all urge the central bank to find a solution as a solution.