NEW YORK, Nov. 21 (Xinhua) — Some US business giants have sounded the alarm regarding a looming recession in the United States, joining a group of CEOs, investors and academics who predict a prolonged recession, Insider reported. In its report on Sunday.
“These experts point to several headwinds to growth, including the Federal Reserve’s interest rate hike to quell hyperinflation and the Russia-Ukraine war, which is disrupting global trade,” the report said.
“The economy is not looking good right now,” said Jeff Bezos, founder and CEO of Amazon. “Things are slowing down, and you’re seeing layoffs in many sectors. The odds are that if we’re not in a recession right now, we probably will be.” Recession very soon.
