The future of the American economy does not make the billionaire happy Jeff Bezos. The founder of the e-commerce giant addressed the issue in an interview to the media CNNSaturday, November 12, 2022. Owner Blue source It warned that the US economy could collapse in a deep recession. “The economy is not looking great right now” He drew attention to several points. “Things have slowed down, you’re seeing layoffs in many sectors of the economy.” he added. Jeff Bezos also emphasized: “If we’re not in a recession right now, the odds say we’ll probably be there very soon.”.
He suggested to increase cash reserves
Addressing households, the billionaire advised them to delay major purchases, including cars, refrigerators or televisions. He also suggested that small business owners plan to hold off on investing in new equipment. Also, he recommended them to increase their cash reserves quickly. Note that Jeff Bezos is not the first person to warn of a recession in the American economy this year. Therefore, analysts, academics and investors also refer to the Federal Reserve’s efforts to fight against inflation.
As a reminder, Jeff Bezos’s words came after he made the decision to spend most of his wealth on social causes. Being the fourth richest man in the world, he funds many charities like his peers. He announced on CNN his intention to do so in his lifetime. He made the first announcement to create a fund of 10 billion over 10 years to finance the fight against climate change. According to American magazine Amazon boss’s fortunes are estimated Forbes At $124 billion.