Amazon Bezos also warns of recession "Must prepare for crisis"

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Seolgina Cho] "Prepare for a crisis." Amid growing concerns about an economic recession on Wall Street in the United States, Jeff Bezos, the founder and chairman of the board of the world's largest e-commerce company Amazon, also issued a warning message.

On the 19th (local time), according to the economic media CNBC, Chairman Bezos posted a video on his Twitter the previous night showing David Solomon, CEO of Goldman Sachs, in an interview with CNBC right after the Q3 earnings announcement, saying, "Yes. The current economic outlook suggests that we need to prepare for a crisis."

In the video posted by Chairman Bezos, CEO Solomon pointed out, "It does not necessarily mean that a really severe economic scenario is imminent, but the possibility of a recession in the U.S. is high." He also advised, "It is a time to be cautious," adding, "If you are running a risk-based business, now is the time to think more carefully about how much risk you can tolerate."

Earlier last week, Jamie Dimon, chairman of JP Morgan, known as the "Emperor of Wall Street," after announcing earnings, said, "A major headwind is right ahead," citing inflation, interest rate hikes, uncertain quantitative tightening (QT) effects, the Ukraine war, and the energy crisis as concerns.

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