Jeff Bezos Has Thoughts On The Economy As 90 Of Ceos Believe A Recession Is Coming

                By                    Selena Fragassi                

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On Oct. 10, CNBC reported that JPMorgan Chase CEO Jamie Dimon said the situation is “serious,” believing that a recession is imminent in six to nine months. And Fortune reported that Citadel CEO Ken Griffin has also anticipated a recession is coming, saying, “It’s just a question of when and, frankly, how hard.”

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“Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection,” Bezos tweeted at the time, admonishing the Build Back Better bill as “[trying] hard to inject even more stimulus into an already over-heated, inflationary economy.” He added, “Inflation is a regressive tax that most hurts the least affluent. Misdirection doesn’t help the country.”

Those comments drew the ire of White House deputy press secretary Andrew Bates at the time, as noted by NDTV.

More Economic Volatility Ahead?

Bezos’ latest post seems to be in agreement with Solomon’s recent comments on the economy — comments in which Solomon warned that investors and corporate heads need to get serious about possible risks, including the Federal Reserve’s move to keep increasing interest rates as a means to abate inflation, a move that has been questioned by the World Bank.

“I think you have to expect that there’s more volatility on the horizon,” Solomon said in an Oct. 18 CNBC interview. “Now, that doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance that we have a recession in the United States.”

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Fortune detailed that 90% of CEOs believe a recession is coming and Bezos’ notion of “battening down the hatches” seems to be the consensus among those who say it’s time to get serious about the state of the economy.