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San Francisco, Dec 10 (IANS) Twitter CEO Elon Musk on Saturday stated that the following US Federal Reserve fee hike will amplify the recession.
“If the Fed raises charges once more subsequent week, the recession shall be vastly amplified,” he stated in a tweet.
A number of customers expressed their ideas on Musk’s submit.
Whereas one consumer commented: “Nobody appears to be noticing that the quantity of energy consolidated solely in Elon’s arms is alarming,” one other stated: “That is true, but when the #Fed would not elevate charges #inflation shall be vastly amplified, which is able to finally amplify the #recession much more.”
Final month, Musk had stated that the US financial system was inching in the direction of a extreme recession, and the Federal Reserve must cease mountaineering rates of interest.
Musk stated final week that the American central financial institution wants to right away minimize rates of interest as a extreme recession is looming.
–IANS
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