Jeff Bezos warns of recession, advises people to avoid expensive purchases

Jeff Bezos warns of recession, advises people to avoid expensive purchases

Amazon Founder Jeff Bezos has warned consumers and businesses to postpone major purchases during the holiday season in anticipation of an economic downturn.

In an interview with CNN, he advised consumers to keep their cash safe and avoid unnecessary spending.

Fearing a recession, he advised Americans to avoid purchasing high-ticket items such as expensive cars and televisions.

“Take some risk off the table, keep some dry powder on hand…. A little bit of risk reduction can make all the difference to that small business if we get into more serious economic trouble. You’ve got the possibilities.” Play a little,” Bezos was quoted as saying.

ALSO READ: Amazon begins massive layoffs among its corporate workforce

“If you’re a person considering buying a big screen TV, you might want to wait, put your money on hold, and see what happens. A new automobile, refrigerator, or whatever , the same is true with. Just remove some risk from the equation,” he said.

In the same interview, the Amazon founder said he would donate most of his $124 billion net worth to combat climate change and support people who unite humanity.

This story has been obtained from a third party syndicated feed, Agencies. Mid-Day accepts no responsibility or liability for its reliance, reliability, credibility and data of the text. Mid-day Management/ reserves the sole right to modify, delete or remove (without notice) any Content at its sole discretion for any reason whatsoever.



Please enter your comment!
Please enter your name here