Founder and former CEO of Amazon Jeff Bezos offers advice on what consumers and small businesses should do given that the U.S. economy is already in recession or headed “soon.” Billionaire says: Things are slowing down. We are seeing layoffs in so many areas of the economy.
Jeff Bezos on the US Economy and Preparing for a Recession
Jeff Bezos, founder and former CEO of retail giant Amazon, says the US economy is in crisis. I shared my thoughts on the matter. In his interview with CNN last week, he explained the recession and what consumers and small businesses should do.
Responding to questions about whether the United States is in recession and his advice to small businesses, the billionaire now executive chair of Amazon warned:
The economy doesn’t look good at the moment. Things are slowing down. We are seeing layoffs in so many areas of the economy.
Admitting that he does not know “whether we are technically in recession or not,” but citing economists who have debated the topic, he states: emphasized. Now we could soon become one.
“My advice to people,” including small business owners, is to “take some risks off the table,” Bezos said, adding: 28}
, which might slow down that purchase a bit. Keep some dry powder handy and wait and see. Try to de-risk your business and life.
“If you’re an individual and you’re thinking of buying a big-screen TV, hold off, keep your cash handy, and see what happens. Fridge But it’s the same with new cars, just take the risk out of it,” Bezos advised.
“If you are a small business, you can also delay capital purchases. Cuts can make a difference for that small business…a little bit has to play with the odds,” suggested Amazon’s executive chair.
Bezos was also asked how long he thought the recession would last. “I don’t think even the most experienced economists in the world can answer that question,” he replied, elaborating. table as much as possible. Hope for the best, but prepare for the worst.
In October, Bezos, CEO of Goldman Sachs David He commented on Solomons, saying a recession was very likely. An Amazon executive tweeted at the time:
According to a recent survey, 98% of CEOs are preparing for a US recession. Renowned investor Jim Rogers believes it will be the worst recession of his life. Economist Peter Schiff has warned that the Federal Reserve’s actions could lead to market crashes, major financial crises and deep recessions. But the White House isn’t prepared for a recession. President Joe Biden recently claimed that the US economy is “strong as hell.”
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