The head of Tesla (NASDAQ:TSLA) and SpaceX, Elon Musk, an American economist and professor at New York University, Nouriel Roubini, who predicted the global financial crisis of 2008, and the investment bank Goldman Sachs (NYSE:GS) warned of an increasingly serious probability of a recession in the United States. This is reported by Bloomberg.
According to Musk, the decline of the American economy is inevitable. According to Goldman Sachs economists, the probability of a recession during 2023 is 30%. Roubini, in turn, expects that the recession in the United States will come by the end of 2022. According to him, indicators of consumer confidence, retail sales, manufacturing activity and housing are slowing sharply, while inflation remains high.
Inflation in the United States accelerated to a record 8.6% in the last 40 years in May.
In mid-June, President Joe Biden said he did not think a recession was inevitable. According to him, the United States has more opportunities than any other country in the world to cope with inflation.
Also on June 19, US Treasury Secretary Janet Yellen said that anti-Russian sanctions affect Washington, as well as lead to costs for the American economy.
The Finance Minister added that inflation is at a high level not only in the United States, but also in Britain, France and Germany.
Earlier, the president of the Federal Reserve Bank of Cleveland, Loretta Mister, said that inflation in the country could fall to 2% no earlier than in two years.