Elon Musk on the US banking system: “It won’t get worse”

American businessman Elon Musk decided to assess the current state of the US banking system. He posted his opinion on the situation on Twitter.

Earlier, Fed Chairman Jerome Powell said on social networks that the banking system of the United States was allegedly reliable and stable. However, the entrepreneur did not agree with him. And one of the users jokingly suggested that instead of Powell, make a neural network the head of the Fed.

“It won’t get any worse”Musk responded to this idea.

Recall, earlier in the day, US Treasury Secretary Janet Yellen warned that the United States would lose international confidence in the event of a default. And she predicted it at the end of January.

A few days ago REN TV explained whether the banking crisis in the United States is dangerous for Russia. It was also reported what the bankruptcy of Silicon Bank would mean for the United States itself.

The US national debt on January 19 rose to a record $31.4 trillion and hit the ceiling. The US government debt is 136.62% of the country’s GDP.

Experts argue that the current situation is already threatening to deal a devastating blow to the economy. The states are predicting a recession and a stock market crash if Congress does not raise the bar for public debt. The debt ceiling determines the total amount of money the US government can borrow to pay social security benefits, pay off health insurance, government bond coupons, and tax refunds.