# Elon Musk, Nouriel Roubini and Goldman Warn of Rising US Recession Risk | Tech News (HT Tech) > Elon Musk, Nouriel Roubini and Goldman Sachs Group Inc. have warned of a growing likelihood that the US economy will fall into recession. # Elon Musk, Nouriel Roubini and Goldman Warn of Rising US Recession Risk ## Elon Musk, Nouriel Roubini and Goldman Sachs Group Inc. have warned of a growing likelihood that the US economy will fall into recession. Jun 21 2022, 16:59 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Elon Musk](https://images.hindustantimes.com/tech/img/2022/06/21/1600x900/FILES-US-INTERNET-MERGER-TESLA-TWITTER-0_1654687135051_1655808992507.jpg) Elon Musk, Nouriel Roubini and Goldman Sachs Group Inc. have warned of the US economy may fall into recession. (AFP) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Elon Musk, Nouriel Roubini and Goldman Sachs Group Inc. have warned of a growing likelihood that the US economy will fall into recession. Their outlooks will stoke fears of a hard landing for the world’s biggest economy as the Federal Reserve jacks up interest rates to counter the fastest pace of inflation in decades. Tesla Inc. Chief Executive Officer Musk said Tuesday that a recession in the US looks likely in the near future. “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 said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum in Doha. Also read click here. “It is not a certainty, but it appears more likely than not,” Musk said. The world’s richest person told Tesla executives earlier this month that he had a “super bad feeling” about the economy, according to an internal email seen by Reuters. Goldman Sachs economists cut their US growth forecasts and warned in a research note Monday that the risk of recession is rising. The Goldman team sees a 30% probability of entering a recession over the next year, up from 15% previously, and a 25% conditional probability of entering a recession in the second year if one is avoided in the first. That implies a 48% cumulative probability in the next two years versus 35% previously. “We now see recession risk as higher and more front-loaded,” economists led by Jan Hatzius wrote. “The main reasons are that our baseline growth path is now lower and that we are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply.” In his outlook, Roubini said he expects a US recession by the end of the year. Measures of consumer confidence, retail sales, manufacturing activity and housing are all slowing sharply while inflation is high, the chief executive officer of Roubini Macro Associates said on Bloomberg Television. “We’re getting very close,” he said. Seeking to quell a surge in living costs, the Fed accelerated its monetary-tightening campaign last week with its biggest interest-rate increase since 1994. That drove fresh losses on Wall Street and has increased the odds of a recession, piling pressure on President Joe Biden. Biden reiterated Monday that a US recession isn’t “inevitable” following a conversation with former Treasury Secretary Larry Summers, who sees a significant chance the country will find itself battling stagflation. Qatar’s Ministry of Commerce and Industry, Qatar Investment Authority and Investment Promotion Agency Qatar are the underwriters of the Qatar Economic Forum, Powered by Bloomberg. Media City Qatar is the host organization. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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