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Elon Musk says US recession in near future appears ‘more likely than not’

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Elon Musk has warned that a US recession is “more likely than not” to come in the near future.

The Tesla chief executive made his comments after confirming plans to cut 10 per cent of salaried staff at the carmaker over the next three months.

“A recession is inevitable at some point. As to whether there is a recession in the near term, that is more likely than not,” Musk told the Qatar Economic Forum via satellite on Tuesday (21 June).

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