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10/26/2021, 3:09 AM (Source: TeleTrader)
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Musk sees 'strong' short-term inflationary pressure

Tesla CEO Elon Musk took to Twitter to warn about "strong inflationary pressure" seen recently.

"I don't know about long-term, but short-term we are seeing strong inflationary pressure," Musk wrote in response to a tweet by ARK Invest CEO Cathie Wood, who said that "the rate at which money turns over per year declined" despite United States Federal Reserve's quantitative easing.

Musk's comments come after a string of US companies, including Whirlpool and Chipotle, revealed that shortages throughout supply chains are forcing them to raise prices for their customers.

Baha Breaking News (BBN) / NL