Mark Avallone hopes to see a ‘modest’ recession, not a ‘hard landing’
Potomac Wealth Advisors founder and president Mark Avallone says he doesn’t expect robust economic growth ‘from here on out.’
Elon Musk issued a stern warning this week to the Federal Reserve as it embarks on one of the most aggressive campaigns in decades to crush out-of-control inflation.
The U.S. central bank, he said, is raising interest rates too high, too quickly – even though the Tesla CEO believes the economy has entered a period of deflation.
"There's more deflation than inflation," Musk said on Wednesday during Tesla's third-quarter earnings call. "I'm going to make this point over and over again to the Fed, and the Fed is not listening because they're looking at the rearview mirror instead of looking out the front windshield."
This is not the first time that Musk has taken a shot at the U.S. central bank, which is trying to rein in stubbornly high inflation that is still running near the hottest pace in four decades.
THESE BUSINESS TITANS ARE SOUNDING THE ALARM OVER THE US ECONOMY