Live
- 2024 on track to be hottest year on record
- PM Modi’s visit to Solapur: Women applaud ‘Double-Engine’ government’s initiatives
- Nagarkurnool MLA Dr. Kuchukulla Rajesh Reddy Campaigning in Maharashtra Elections
- Wife Kills Husband with Her Lover: Details of Veldanda Murder Case Revealed by SP Gaikwad
- Strict Action on Violations of Food Rights: Telangana Food Commission Chairman Goli Srinivas Reddy
- Smooth Conduct of Group-3 Exams with Strict Security Measures: Collector Badavath Santosh
- Delhi HC orders cancellation of LOC issued against Ashneer Grover, wife
- Shami’s absence a major blow for India in BGT, says Paul Adams
- Will organize protests at borders if attack on minority Hindus in Bangladesh not stopped: Bengal LoP
- Dutch Ambassador Marisa Gerard Meets Telangana CM A. Revanth Reddy in Delhi
Next Fed rate hike will amplify recession: Musk
Elon Musk
Twitter CEO Elon Musk on Saturday said that the next US Federal Reserve rate hike will amplify the recession.
San Francisco: 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."
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.
