CryptoWallCity vs MEXC Exchange

Elon Musk: The US economy can be inferred to last 18 months

Tesla and SpaceX CEO Elon Musk says the US economy could be in a recession and remain “tough” for 12 to 18 months.

The reason for inflation is that the government printed a million dollars more than they had” he added.

Elon Musk, CEO of Tesla and SpaceX, spoke about the US economy on the All-In podcast, published Monday.

Commenting on whether the US economy is in recession, Musk said:

We may be in a recession and that recession will get worse but these things will pass and then there will be times of boom again… It can be difficult, I I don’t know how long, a year, maybe 12-18 months.

He added that 12 to 18 months is the amount of time for the adjustment to happen. Recession fears have escalated recently as the Federal Reserve tightened monetary policy to help cool inflation.

Musk explained that in his view, recessions are not necessarily a bad thing, noting that Musk has been through several recessions.

Ceo Tesla said:

The reason for inflation is that the government has printed a million dollars more than they have…

Musk added that countries like Venezuela have also gone down a similar path.

The Tesla CEO is currently in the process of acquiring Twitter Inc. However, the deal is currently on hold.

Comments (No)

Leave a Reply