Elon Musk Sees Deflation Coming If There Is Another Major Fed Rate Hike

Tesla CEO Elon Musk smiles as he addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway, on Aug. 29, 2022. Carina Johansen/NTB/AFP via Getty Images

Elon Musk has warned that another interest rate hike by the U.S. Federal Reserve could result in deflation hitting the economy.

Last year, Musk predicted that the U.S. would enter a recession.