NEW YORK, Nov 21 (XINHUA) — Some U.S. business giants have sounded the alarm about a looming recession in the United States, joining a group of CEOs, investors and academics who are forecasting a prolonged recession, Insider reported. Sunday.
“These experts point to several obstacles to growth, including the Federal Reserve raising interest rates to quell hyperinflation and the Russia-Ukraine war, which is disrupting global trade,” the report said.
“The economy is not doing well right now,” said Amazon founder and CEO Jeff Bezos. “Things are slowing down and we’re seeing layoffs across many industries. Odds are if we’re not in a recession now, we probably will be.” Recession very soon.
