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The world's second richest man sounded the alarm of the US recession: prepare for the storm!

  • linda
  • 2022-10-20 21:19:44
  • 303 read
  Bezos, the world's second-richest man and Amazon founder, has warned that the U.S. economy may be heading...

  Bezos, the world's second-richest man and Amazon founder, has warned that the U.S. economy may be heading for a recession and advised Americans to prepare for a storm. He is the latest corporate leader to sound alarm bells in the U.S. economy.

  On Tuesday, Goldman Sachs CEO Solomon made some downbeat comments on the U.S. economy. Bezos echoed Solomon's remarks in a tweet that night.

  Bezos retweeted the video of Solomon's interview with the media and said: "Yes, all possibilities in the economy, remind everyone to be prepared for the storm."

  Solomon mentioned in his comments that it is time for US business leaders and ordinary investors to understand that risks to the US economy are rising and that they need to be prepared accordingly.

  Solomon's comments came after his Goldman Sachs Group reported better-than-expected quarterly results. But he said a recession could be looming as high inflation persists and the Fed tries to keep prices down with a series of aggressive rate hikes.

  Considering that Bezos is currently the second-richest person in the world, the Amazon he founded is one of the largest employers in the United States (with 1.5 million full-time and part-time employees as of June 30), and the company's market value is $1.2 trillion. Last year's net With sales reaching $470 billion and a major player in the stock market and economy, Bezos's views on the U.S. economy are self-evident.

  Amazon CEO Andy Jassy, who took over from Bezos last summer, seems to have the same concerns as his predecessor. Amazon has been cutting costs, slowing spending and freezing hiring for certain roles in recent months, a sign the company expects a tougher economy.

  constant warning

  Major investors, executives, academics and analysts have all warned of a potential global recession in recent days. They cited a range of risks, including huge private and public debt, and the continued disruption of food, fuel and commodity markets by the Russian-Ukrainian conflict.

  Fed officials hope the economy can avoid a recession, but they also acknowledge that tightening monetary policy could lead to one. The Federal Reserve’s September meeting estimated that U.S. GDP will grow by just 0.2% in 2022, with a rebound in 2023, but only by 1.2%.

  U.S. GDP contracted in both the first and second quarters of this year, meeting the definition of a "technical recession."

  JPMorgan Chase CEO Jamie Dimon recently said the situation was "very, very dire" and that the US economy could slip into recession within the next six months.


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