Jeff Bezos advises ‘taking some risk off the table’ and says the economy is currently ‘not looking good’

Amazon founder Jeff Bezos On Saturday, he offered some advice to individuals and small business owners as he noted that the economy “doesn’t look good at the moment”.

Bezos He told CNN He didn’t know if the US was “technically in a recession,” noting that some economists “argue about that” and “have certain technical definitions.”

“What I can tell you is Economie The Amazon founder said, “It doesn’t look great now. Things are slowing down. You’re seeing layoffs in many sectors of the economy. People are slowing down. The odds are that if we’re not in a recession right now, we probably will be in a recession pretty soon.” “.

inflationAs measured by CPI, it remains high despite a slight chill in October, up 0.4% from September and 7.7% from a year earlier, FOX Business Previously mentioned. In an effort to combat inflation and cool the economy, the Federal Reserve has raised interest rates several times this year, including four consecutive increases of 75 basis points.

Americans see higher inflation ahead: New York Fed

As the country struggles with the effects of high inflation and high interest rates, some companies in various sectors have Dismissed – Temporarily released employees.

For example, real estate companies Zillow And the Redfin Cuts of about 300 and 862 workers, respectively, were recently announced. Technology companies like Meta, Twitter and Lyft . platforms They also announced that they would reduce their numbers.

Hiring more than 11,000 employees

While speaking with CNN, Bezos advised individuals and small business ‘To take some risk off the table’ amid an imminent possibility Economic recession.

Jeff Bezos, Amazon founder and CEO, speaks to the media about the company’s sustainability efforts on September 19, 2019 in Washington, DC. Amazon CEO Jeff Bezos announced Thursday the New Climate Pledge, with the goal of reaching the Paris Climate Agreement (Eric Baradat/AFP via Getty Images/Getty Images)

Bezos mowed at a conference. (Associated Press/The Associated Press newsroom)

“If you’re going to make a purchase, maybe slow down the buying process a little bit,” Amazon founder recommended. “Keep some dry powder on hand, and wait a bit. Try to reduce some of the risks in your work or life.”

For individuals, Bezos recommended putting off big purchases including big TVs, refrigerators and new cars.

He said smaller companies “may delay some capital purchases” such as buying new pieces of equipment. According to Bezos, taking steps to reduce some of the risks “could make a difference for this small business if we face more serious economic problems.”

“Hope for the best but prepare for the worst,” Bezos also said regarding a possible recession in the interview.

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