Tesla Inc. CEO Elon Musk said Monday the United States is probably in a recession—and added that it could get worse and last up to a year-and-a-half.
What Happened
The billionaire entrepreneur, who was speaking remotely at an All-In Summit being held in Miami, said recession could lead to misallocation of capital and warned companies should to ensure they have enough reserves.
“We probably are in a recession and that recession will get worse. These things pass and then there will be boom time again,” Musk said.
“It’ll probably be some tough-going for … a year, maybe 12–18 months is usually the amount of time for a correction to really happen.”…