CEOs of the top companies in the country have been sounding the alarm about the fate of the U.S. economy, amongst them – the richest man in the world, Elon Musk.
The Tesla CEO is warning that it is “more likely than not” that the United States will get hit hard by a recession in the near future.
Proving that his attempts to caution about what’s coming are rather serious, Elon recently confirmed that Tesla will fire 10% of its workforce over the next three months.
“Tesla is reducing roughly 10% of its salaried staff in the next three months,” Musk said speaking at an economic forum in Qatar.
Musk has been one of the most outspoken critics of the Biden regime and has even publicly stated he would be voting Republican in upcoming elections for the first time in his life.
Now it appears the Biden team’s incompetency may catapult the country into a prolonged period of serious economic hardship.
Federal Reserve Chairman Jerome Powell gave more validity to Musk’s warning, recently admitting a recession is “certainly a possibility.”
Powell also warned that the US economy faces an “uncertain” global environment and could undergo more inflation “surprises.”
In an op-ed for Bloomberg, former New York Fed chief Bill Dudley wrote that a recession is “inevitable.’
“If you’re still holding out hope that the Federal Reserve will be able to engineer a soft landing in the US economy, abandon it,” Dudley wrote. “A recession is inevitable within the next 12 to 18 months.”
For more information which could help you be prepared for what’s coming, watch the video below.