Tesla’s Musk and Twitter’s Dorsey warn over rising inflationary pressures

Amid growing concerns over elevated inflation and its impact on the post-pandemic economic recovery, the latest warnings from America’s billionaire entrepreneurs are adding to the policymakers’ misery while aggravating the investors’ concerns.

Tesla Inc.’s founder Elon Musk, in a Twitter response, said, “I don’t know about long-term, but short-term we are seeing strong inflationary pressure.”

Meanwhile, Twitter CEO Jack Dorsey predicted that the US could soon be hit by " hyperinflation " and warned that it "is going change everything".

These comments come after Fed Chairman Jerome Powell said last Friday that inflation pressures "are likely to last longer than previously expected", and could last "well into next year".

more to come ...