Billionaire Elon Musk on November 30 sounded his concern over the arrival of a "severe recession" in the US. The Tesla and Twitter CEO took to Twitter to say that Federal Reserve needs to cut interest rates “immediately" to stop the recession.
Terming the current trend as "concerning", Musk added that Fed is "massively amplifying the probability of a severe recession."
He was replying to a tweet by Tasmanian co-founder Vincent Yu.
Trend is concerning. Fed needs to cut interest rates immediately. They are massively amplifying the probability of a severe recession.
— Elon Musk (@elonmusk) November 30, 2022