Elon Musk is worried about the economy.
For several months now, the richest man in the world has continued to sound the alarm, warning that the economy risks a deep recession if the central bank’s monetary policy stays on course.
While the Federal Reserve is holding its last monetary meeting of the year in the coming days, the serial entrepreneur has just made a new prediction. And like his past predictions, this one is very alarming.
The Federal Reserve has raised interest rates sharply in recent months, taking the benchmark rate from almost zero during the pandemic to a range between 3.75% and 4%, in an effort to combat inflation, which is at its highest in 40 years. But many economists say that this aggressive monetary policy will plunge the economy into a recession.
‘The Recession Will Be Greatly Amplified’
The central bank holds a two-day meeting on December 13 and 14. The policymakers are expected to raise rates by 50 basis…
