Elon Musk says US Federal Reserve needs to cut interest rates immediately as recession looms
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Elon Musk on Wednesday said the US Federal Reserve needs to immediately cut interest rates as a severe recession is looming, ahead of the speech by Fed Chair Jerome Powell at a US event on the outlook for the economy and the changing labour market. Reacting to Vincent Yu, Founder of Tesmanian.com who said he is expecting a real economic recession in 2023, Musk replied: "Trend is concerning. The Fed needs to cut interest rates immediately.