Part 9/13:
The macroeconomic environment presents significant challenges. The Federal Reserve’s ongoing rate hikes risk triggering a recession, which would harm Tesla’s auto sales. Black warns that persistent interest rate increases could pressures Tesla’s margins and demand, even while noting that full self-driving (FSD) technology could be a game-changer if it reaches Level 4 autonomy—allowing cars to operate autonomously without human intervention—possibly as soon as next year.