{"id":6213,"date":"2022-06-04T08:57:53","date_gmt":"2022-06-04T08:57:53","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy"},"modified":"2022-06-04T09:35:54","modified_gmt":"2022-06-04T09:35:54","slug":"view-elon-musks-super-bad-feeling-about-the-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy","title":{"rendered":"VIEW Elon Musk\u2019s \u2018super bad feeling\u2019 about the economy"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>O) Chief Executive Elon Musk told top managers he had a \u201csuper bad feeling\u201d about the economy and that the electric carmaker needed to cut staff by about 10%, according to an internal email seen by Reuters. read more<\/p>\n

The email, titled \u201cpause all hiring worldwide\u201d, was sent to Tesla executives on Thursday, and underscored an increasingly gloomy economic outlook for the globe, as prices soar and war in Ukraine passes its 100th day.<\/p>\n

The message from Musk came shortly after Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase (JPM.N), described the challenges facing the U.S. economy as akin to a \u201churricane\u201d.<\/p>\n

Here is reaction to the comments:<\/p>\n

FIONA CINCOTTA, SENIOR FINANCIAL MARKETS ANALYST, CITY INDEX, LONDON<\/p>\n

\u201cAlthough the Fed thinks a soft landing is possible \u2026 there are some warning signs in the economy. We know that growth is slowing and inflation remains persistently high and we know that the Fed will need to act aggressively to bring inflation back down.\u201d<\/p>\n

\u201cThe question is \u2013 will they be able to act as aggressively as they need to, and obviously Elon Musk doesn\u2019t think that they\u2019re going to be able to, without putting the economy into a deep recession. China slowdown is an added problem.\u201d<\/p>\n

LORENZO CODOGNO, HEAD OF LC MACRO ADVISERS AND FORMER CHIEF ECONOMIST AT THE ITALIAN TREASURY:<\/p>\n

\u201cIt is clear that rising prices will weaken consumption. That is something we\u2019ll need to face.\u201d<\/p>\n

\u201cIf the inflation flare-up \u2026 starts fading at the beginning of next year \u2026 we will probably not see as dramatic an impact on the global economy as Musk seems to indicate.\u201d<\/p>\n

\u201cAnd If the shock is temporary, companies will probably have an interest in \u2026 not losing human capital.\u201d<\/p>\n

DANIEL IVES, MANAGING DIRECTOR AND SENIOR TECH ANALYST, WEDBUSH SECURITIES (ON TWITTER):<\/p>\n

\u201cStreet will clearly read this message negatively at first blush.\u201d<\/p>\n

\u201cElephant in the room now remains the radio silence on Twitter deal. Musk more negative on economy, what\u2019s next in Twitter saga.\u201d<\/p>\n

CARSTEN BRZESKI, GLOBAL HEAD OF MACROECONOMIC RESEARCH, ING<\/p>\n

\u201cMusk\u2019s bad feeling is shared by many people,\u201d said Carsten Brzeski, global head of macroeconomic research at Dutch bank ING.<\/p>\n

\u201cWe\u2019re talking about stagnation and a global economy which has to go through significant structural change, such as decarbonisation, deglobalisation and adjusting to older societies.\u201d<\/p>\n

\u201cBut we are not talking about global recession. We expect a cooling of the global economy towards the end of the year. The U.S. will cool off, while China and Europe are not going to rebound.\u201d<\/p>\n

\u201cLaying off workers, however, is not the best reaction. We will need skilled workers more than ever in the future. This could turn into firing and then hiring,\u201d he said.<\/p>\n

\u201cAt the end of the day it\u2019s easy to make such comments. Everyone has fears but there is no sign yet to justify such a negative outlook.\u201d<\/p>\n

\u201cThere is a risk of recession yes \u2026 but \u2026 you need to see numbers heading in that direction and so far there are none.\u201d<\/p>\n

\u201cIt will depend a lot on what happens in the labour market. If we have a significant deterioration of U.S. labour markets over the summer, then \u2026 there is a risk of recession next year.\u201d<\/p>\n

 <\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. O) Chief Executive Elon Musk told top managers he had a \u201csuper bad feeling\u201d about the economy and that the electric carmaker needed to cut staff by about 10%, according to an internal email seen by Reuters. read more The email, titled \u201cpause all hiring worldwide\u201d, was sent to Tesla executives on […]<\/p>\n","protected":false},"author":84,"featured_media":6212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9],"tags":[291,293,292],"class_list":["post-6213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nVIEW Elon Musk\u2019s \u2018super bad feeling\u2019 about the economy - Sierra Leone<\/title>\n<meta name=\"description\" content=\"O) Chief Executive Elon Musk told top managers he had a \u201csuper bad feeling\u201d about the economy and that the electric carm ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VIEW Elon Musk\u2019s \u2018super bad feeling\u2019 about the economy\" \/>\n<meta property=\"og:description\" content=\"O) Chief Executive Elon Musk told top managers he had a \u201csuper bad feeling\u201d about the economy and that the electric carm ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-04T08:57:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-04T09:35:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/06\/postQueueImg_4-629b276714e1c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"VIEW Elon Musk\u2019s \u2018super bad feeling\u2019 about the economy\",\"datePublished\":\"2022-06-04T08:57:53+00:00\",\"dateModified\":\"2022-06-04T09:35:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\"},\"wordCount\":562,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/06\/postQueueImg_4-629b276714e1c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/view-elon-musks-super-bad-feeling-about-the-economy\",\"name\":\"VIEW Elon Musk\u2019s \u2018super bad feeling\u2019 about the economy - 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