Elon Musk predicts the US will have a 'mild recession' for 18 months
Tesla owner and billionaire Elon Musk has predicted that the United States (US) will have a 'mild recession' for 18 months. He laid out his assessment of the US economy at Tesla's annual shareholder meeting on Thursday. He reportedly said that the US is heading into a recession. During the meeting, he said, "I am just guessing here, this is total speculation. But I would guess it's a mild recession for 18 months or something like that." Musk further said that the prices Tesla is seeing are trending downward, which "suggests that we are past peak inflation." For the past few months, experts claimed that the US could be headed toward a recession. Due to record inflation, large companies like Tesla announced large-scale layoffs to cut costs. The US Federal Reserve also raised interest rates to cool down the US economy. US Federal Reserve officials also voiced their determination on Wednesday to rein in high inflation. Fed Chair Jerome Powell also said...