According to the IMF, the inflation rate could average 7.4 percent globally this year.
In the United States, inflation reaches 9.1 percent year-on-year.
US GDP fell 0.9 percent
The Covid-19 pandemic, the war between Ukraine and Russia and all the eventualities that have been unleashed in the world in recent months have been responsible for the economic crisis that is being recorded. Given this, many companies, organizations and even entrepreneurs have shared their outlook, as recently did the founding tycoon of Amazon, Jeff Bezos, who warned that the economy in the United States is hurtling towards a debilitating recession.
This new alert joins those that many other influential figures for the economy have already shared. Recently, the rating agency Fitch cut the US growth forecast for next year and warned that rising Federal Reserve (Fed) interest rates and inflation will push the US economy into a 1990-like recession.
In that sense, Fitch forecasts that the Gross Domestic Product (GDP) of the United States will grow 0.5 percent next year, compared to 1.5 percent, which it considered in June.
Jeff Bezos on alert for recession in the United States
In a new statement, billionaire Amazon founder Jeff Bezos joined a growing group of business leaders who have warned that the US economy is hurtling toward a debilitating recession.
“Yes, the odds in this economy tell you to fight for the hatches,” Bezos said in a CNBC interview.
Recall that Bezos still serves as CEO of Amazon, whose shares have fallen more than 33 percent, since January during a broader stock market crash. Likewise, the Forbes list classifies Bezos as the third richest person in the world, with a fortune estimated at 137 thousand 900 million dollars.
In the same interview that Bezos participated in, there was also the CEO of Goldman Sachs, David Solomon, who added to the warnings that he saw a “good probability” of an imminent recession.
In that same context, Solomon detailed his point of view on the same day that Goldman Sachs announced a major reorganization of its internal structure, where the bank reported better-than-expected earnings.
“I think it’s a time to be cautious, and I think if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your risk appetite,” Solomon said during an appearance on the American channel CNBC.
Bezos and Solomon joined others who have warned that a recession is imminent or already underway, including JPMorgan Chase CEO Jamie Dimon.
These new statements come as a survey by the Conference Board found that nearly all US-based CEOs expect a recession to occur within the next 12 to 18 months.
Meanwhile, the nation’s president, Joe Biden, and other members of his administration have continued to insist that a recession is still avoidable.
Bezos has been outspoken about his economic views as conditions have worsened in recent months, even drawing criticism from the Biden administration for its response to the situation.
In May alone, Bezos and the White House exchanged public words after the Amazon boss rejected taxes over claims that growing businesses would reduce inflation.
In conclusion, there are many who are sharing their perspective in the face of the current economic crisis. But also many of these warnings are for people to prepare for the impact that this crisis can have throughout the world.
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