Biden responds to Elon Musk’s financial doubts: “Numerous luck on his journey to the moon”

President Biden on Friday responded to Elon Musk‘s latest doubts in regards to the U.S. economic system, saying he wished the Tesla CEO “a number of luck on his journey to the moon.”

In response to Reuters, Musk mentioned in an e mail to Tesla executives Thursday he has a “tremendous unhealthy feeling” in regards to the economic system and he mentioned in an e mail to staff Friday that he’ll be chopping about 10% of employees. He isn’t alone in his views in regards to the economic system. JPMorgan Chase CEO Jamie Dimon warned that an financial “hurricane” is on its manner whereas at a monetary convention Wednesday.

Talking Friday morning about Could’s jobs report, Mr. Biden mentioned the U.S. achieved “essentially the most sturdy restoration in trendy historical past” with a complete of 8.7 million new jobs since he took workplace. For Could, the unemployment charge stayed regular at 3.6%, which was on par with the final two months and the bottom stage it has been through the pandemic.

When the president was requested about Musk’s and Dimon’s views, he famous Ford Motor Firm’s growing funding in staff and electrical autos.

“Whereas Elon Musk is speaking about that, Ford is growing their funding overwhelmingly,” Mr. Biden mentioned. “I feel Ford is growing funding in constructing new electrical autos, 6,000 new staff, union staff I would add, within the Midwest.”

The president additionally boasted about an electrical automobile funding from Chrysler’s dad or mum firm, Stellantis.

“Intel is including 20,000 new jobs for making laptop chips,” he mentioned. “So, you recognize, a number of luck on his journey to the moon.”

Musk tweeted, “Thanks Mr. President!” in response to Mr. Biden. 

Irina Ivanova contributed reporting.

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