Next Fed rate hike will amplify recession: Musk

Twitter CEO Elon Musk on Saturday said that the next US Federal Reserve rate hike will amplify the recession.

"If the Fed raises rates again next week, the recession will be greatly amplified," he said in a tweet.

Several users expressed their thoughts on Musk's post.

While one user commented: "No one seems to be noticing that the amount of power consolidated solely in Elon's hands is alarming," another said: "That's true, but if the #Fed doesn't raise rates #inflation will be greatly amplified, which will ultimately amplify the #recession even more."

FPJ Shorts

Brass Dokra Horse To Madhubani Painting: A Look At PM Modi's Gifts For Presidents Of Brazil, South Africa, Mexico, S Korea

Former Pentagon Official Michael Rubin Criticizes President Donald Trump's Foreign Policy, Warns Of Escalating India-Pakistan, Israel-Iran Tensions (Video)

Tatya Vinchu Calls Himself 'OG' Amidst Labubu Doll Craze; Video Goes Viral

VIDEO: Mumbai-Pune Expressway Sees Massive Traffic Jam Due To Diversions & Heavy Rains; Netizen Say 'Avoid Unnecessary Travel'

Last month, Musk had said that the US economy was inching towards a severe recession, and the Federal Reserve needs to stop hiking interest rates.

Musk said last week that the American central bank needs to immediately cut interest rates as a severe recession is looming.

Read Also

Musk converts several rooms at Twitter HQ into bedrooms for employees