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recession has already begun in the US economy – UNIAN

Musk said that the reason for the record growth in consumer prices lies in the increase in the money supply.

AT US economy a recession has already begun, which can last from 12 to 18 months.

This opinion was expressed by the richest man on the planet Elon Musk. Bloomberg.

Musk said that the reason for the record growth in consumer prices lies in the increase in the money supply.

“The real reason for inflation is that the government has printed a lot of new money. It’s pretty simple,” said the billionaire.

At the same time, Musk is confident that the next year will be quite difficult.

“Then economic growth will start again. Conditions will probably be difficult for a year or maybe 12-18 months,” Musk said.

According to the publication, the Federal Reserve and experts interviewed do not share Musk’s opinion.

According to the Federal Reserve Bank of Atlanta, the US economy contracted by 1.4% in the first quarter, but the decline was caused by a record trade deficit. In the second quarter, US GDP is expected to grow by about 1.8%.

The consensus forecast compiled by Bloomberg suggests that the probability of a recession in the United States in the coming year will be about 30%.

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