Jeff Bezos warns against recession and advises people not to buy TVs and refrigerators this holiday season

'Hold on to your money': Jeff Bezos warns of recession, advises people not to buy TVs and fridges this holiday season

“The economy is not looking good right now,” Jeff Bezos said. (Proceedings)

Amazon founder and billionaire Jeff Bezos recently warned consumers and businesses that they should consider postponing big purchases over the holiday season as an economic downturn could be looming.

speaking to CNN, the business mogul advised consumers to keep their cash safe and avoid unnecessary spending in the coming months. He recommended that American families avoid buying big-ticket items like new cars and televisions as the United States faces a recession.

“Take some risks off the table,” Bezos advised people, adding: “Have some dry powder handy… Just a little bit of risk reduction could make all the difference for that small business, if we get even more involved.” “. serious financial problems. You have to play the odds a little bit.”

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He further said, “If you’re someone considering buying a big-screen TV, you might want to wait, save your money, and see what happens. Same goes for a new car, refrigerator, or anything else.” Just take some risk out of the equation.”

Bezos also stated that “the economy is not looking good right now.” “Things are slowing down. They are seeing layoffs in many sectors of the economy,” he told the outlet.

Separately, in the same interview, the Amazon founder said he will donate the bulk of his $124 billion net worth to charities to fight climate change and support the people who can unify humanity amid rising pressures. social and political divisions. Bezos did not specify how much of his wealth he plans to give away. However, when asked if he would donate a significant portion of his wealth to charity during his lifetime, he replied: “Yes, I will.”

Jeff Bezos is currently the CEO of Amazon, having stepped down from his previous role as CEO (Chief Executive Officer) last year.

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