Is Elon Musk’s DOGE leadership driving US toward recession and hiring freezes? Here’s what top economist says
Elon Musk’s aggressive cost-cutting measures in the federal government.
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The warning comes as layoffs, hiring freezes, and slashed contracts threaten to destabilize the labor market, potentially leading to a «deep, deep recession”, as mentioned in a report by Futurism.
Jesse Rothstein, a professor at the University of California, Berkeley, and former Department of Labor chief economist, has expressed concerns that the billionaire entrepreneur’s role in reducing federal spending could set off a devastating economic downturn.
Musk’s Cuts Could Trigger a Major Recession
In a post on Bluesky, Rothstein stated that the country is almost certainly heading toward a severe economic contraction due to mass layoffs in government jobs and abrupt federal contract cancellations.
«It seems almost unavoidable at this point that we are headed for a deep, deep recession,» Rothstein warned, as quoted in a report by Futurism.
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