Avoid buying big things like TVs, cars: Jeff Bezos warns consumers about recession. | Tech Reddy

Amazon founder Jeff Bezos has warned consumers and businesses to postpone major purchases during the holiday season in anticipation of an economic downturn. In an interview with CNN, he advised consumers to keep their money safe and avoid unnecessary spending.

Because of fears of a recession, he advised Americans to avoid buying high-ticket items such as expensive cars and televisions. “Take the risk off the table, keep the dry powder on hand…. A little reduction in risk can make a difference in that small business, if we run into serious economic problems. You should be successful. Play the little bit of probability,” Bezoz was quoted as saying.

“If you’re someone who’s thinking about buying a big-screen TV, you might want to wait, hold onto your money, and see what happens. It’s the same with a new car, refrigerator, or anything else. There’s risk in the equation,” he added.

Explaining that the economy is not looking good right now, he said, “Things are slowing down.” You see layoffs in many sectors of the economy. ” He also advised big businesses to cut back on purchases and capital spending because the US economy may soon slow down.

Bezos said many people may feel stressed right now because of the extended recession, but he seems confident of a turnaround in the coming weeks and months.

In the same interview, the founder of Amazon said that he will donate his worth of 124 billion dollars to charities to fight climate change and support people who can unite society.