Elon Musk Warns of ‘Tough Year Ahead’, Slams Fed for Interest Rate Hikes Based Off ‘Somewhat Stale’ Data

Tesla held its annual shareholder meeting on Tuesday afternoon, and CEO Elon Musk said the company will make changes to its business practices, including the decision to begin advertising for the first time in its 20-year history.

Following the meeting, Musk sat down for an interview with David Faber of CNBC, where the two chatted about how inflation and the recent rate hikes by the U.S. Federal Reserve will impact Tesla.

Musk said he expects it to be a “tough 12 months ahead” for “everyone,

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