Bezos Predicts Recession, Gives Advice For Families To Mitigate Effects

Billionaire Bezos can see a recession coming!
Washington Post owner Jeff Bezos speaks during the inauguration of the Washington Post Headquarters on January 28, 2016 in Washington, DC. (Photo by Mandel Ngan / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)

At a glance

  • Amazon founder and billionaire Jeff Bezos predicts a “contraction” in 2023 as layoffs at Amazon loom, and gave advice to people who may be struggling soon if they’re not already.
  • Bezos advised people to hold off on big-ticket items like flatscreen televisions. “Just a little bit of risk reduction could make the difference,” he said in an interview with CNN Business.
  • Last quarter, household debt topped out at $16.51 trillion, a rate that is the fastest since 2008.

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