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  4. Tesla CEO Musk Says Economy is Past Peak Inflation
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Tesla CEO Musk Says Economy is Past Peak Inflation

By Sam Boughedda Tesla (NASDAQ:TSLA) CEO Elon Musk said there are signs the global economy is "past peak inflation." Speaking at Tesla's annual shareholder meeting, held at its...
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Tesla CEO Musk Says Economy is Past Peak Inflation © Reuters Tesla (TSLA) CEO Musk Says Economy is Past Peak Inflation

By Sam Boughedda

Tesla (NASDAQ:TSLA) CEO Elon Musk said there are signs the global economy is "past peak inflation."

Speaking at Tesla's annual shareholder meeting, held at its Austin headquarters, Musk stated that the company's commodity and component costs are trending lower over the next six months.

"The trend is down, which suggests we are past peak inflation," said Musk. He added that he believes "inflation is going to drop rapidly" at some point in the future.

Many central banks have been battling to combat soaring inflation through rate hikes. The Federal Reserve has continued to aggressively hike rates, with US consumer prices increasing 9.1% in June.

The next inflation report is released on August 10, but Musk said they "have some insight into where prices are headed over time" due to Tesla's need to buy raw materials months in advance.

"The interesting thing that we are seeing now is that most of our commodities, most of the things that go into a Tesla, not all, but more than half -- the prices are trending down in six months," explained Musk.

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31-03-2024 10:19:50 (UTC+7)

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EUR/USD

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Deutsche Lufthansa AG

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    EUR/USD 1.0793 Sell  
    GBP/USD 1.2624 Sell  
    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
    EUR/CHF 0.9738 ↑ Buy  
    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
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SJC Eximbank7,910/ 8,080
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Cập nhật 31-03-2024 10:19:52
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Cập nhật lúc 10:12:31 31/03/2024
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