[Bus Insider] Billionaire Elon Musk said on Tuesday that a recession is "inevitable" and would likely take place sooner than later.The Tesla CEO gave his comments at the Qatar Economic Forum, where he was quizzed on his "super bad feeling" about the economy and what he thought of the claims made by Biden administration officials that a US recession is "not inevitable."
"Well, I think a recession is inevitable at some point," Musk replied. "As to whether there is a recession in the near term, I think that it's more likely than not."
"Certainly it's not a certainty," he added.
Musk's assessment comes as Wall Street has forecast higher odds of an incoming recession, with Goldman Sachs saying on Tuesday that the US faces a 30% chance of hitting such a slump over the next year, up from its previous forecast of 15%.
The company highlighted a cumulative 48% probability that a US recession would happen over the next two years.