On Friday, President Biden responded to Elon Musk’s recent doubts regarding the U.S. economic recovery by wishing the Tesla CEO "lots luck on his journey to the Moon."
According to Reuters Musk stated in an email Thursday to Tesla executives that he had a "super bad feeling about the economy" and that he would be cutting 10% of his workforce. His views on the economy are not unique. Jamie Dimon, CEO of JPMorgan Chase, warned Wednesday at a financial conference that an economic "hurricane” is imminent.
Friday's jobs report was the subject of a Biden interview. He said that the U.S. had experienced "the strongest recovery in modern history", with 8.7 million jobs created since his election. The unemployment rate in May remained steady at 3.6%. This was the same as the previous two months, and it was the lowest since the pandemic.
When asked by the president about Musk's and Dimons views, Dimon noted Ford Motor Company’s growing investment in employees and electric cars.
Ford is increasing its investment in overwhelmingly, even though Elon Musk is talking to that," Mr. Biden stated. Ford is investing more in electric vehicles and 6,000 employees in the Midwest, which I believe is a good thing.
He also spoke out about the Stellantis, Chrysler's parent company.
He said that Intel was adding 20,000 jobs to make computer chips. "So, you're sure, good luck on his trip up to the moon."
Musk tweeted: "Thanks Mr. President!" In response to Mr. Biden.
Thanks Mr President!https://t.co/dCcTQLsJTp
Reporting by Irina Ivanova