Elon Musk’s Economic Plan to Tackle U.S. Recession Fears
The post Elon Musk’s Economic Plan to Tackle U.S. Recession Fears appeared on BitcoinEthereumNews.com.
Elon Musk’s DOGE strategy focuses on boosting GDP growth to prevent a U.S. recession. U.S. Treasury yields hit 4.5%, increasing recession odds to 43% and triggering market volatility. Despite tariff uncertainty, Musk’s Tesla remains bullish on Bitcoin, holding $1.25 billion. Elon Musk’s Department of Government Efficiency (DOGE) has revealed a strategy to help the U.S. economy. To prevent a recession, Musk is working on ways to quickly increase the nation’s GDP, as foreign trade tensions and high Treasury yields are further causing concern. He underlined how important it is for the economy to grow rapidly. In Musk’s view, although DOGE postpones fiscal problems in America, the country could only escape bankruptcy with major boosts in productivity. Rising Yields and Tariffs Fuel Economic Uncertainty Treasury yields in the United States have climbed quickly, with the 10-Year Treasury yield now at 4.5%. Such a spike is leading people to be worried about an economic slowdown. Kalshi data reveals that there is now a 43% chance of a US recession. These factors have increased the chance of sudden changes in financial markets. On the trade side, Mr. Trump’s tariff threats have increased the problems facing the economy. On May 23, 2025, Trump proposed a 50% tariff on European Union goods, causing a decline in Bitcoin prices and unsettling global markets. The ongoing tariff uncertainty continues to disrupt global trade and unsettle investors. Despite market uncertainty, Musk’s Tesla maintains its support for Bitcoin, holding around $1.25 billion in the asset. This displays Musk’s belief in Bitcoin, despite the ups and downs of the markets. Still, the way the broader market has reacted to tariffs demonstrates the risks it creates for both traditional and digital assets. Related: Crypto Is Good for Trump but Bad for America, New York Times Reports U.S. Treasury Secretary Scott Bessent…
Filed under: News - @ May 24, 2025 7:22 pm