'Batten down the hatches': Bezos warns of impending economic downturn

Julia Johnson

Oct 19, 06:00 PM October 19, 06:00 PM

Amazon founder and Executive Chairman Jeff Bezos echoed an expenditure banking CEO's warning of a looming economic downturn on Tuesday.

"Yep, the possibilities in this economy explain to you to batten down the hatches," Bezos tweeted in reaction to a video clip of Goldman Sachs CEO David Solomon.

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“I imagine you have to anticipate that there’s more volatility on the horizon,” Solomon reported in an job interview with CNBC’s Squawk Box on Tuesday. “Now, that does not suggest for positive that we have a seriously tough economic scenario. But on the distribution of results, there’s a very good likelihood that we have a recession in the United States.”

“That environment heading into 2023 is one that you’ve acquired to be cautious and prepared for,” he extra.

Earlier that day, Goldman Sachs unveiled its 3rd quarter report with findings that surpassed analyst anticipations for both income and revenue. In accordance to the organization, gains fell 43%, which was improved than predicted, and income only fell 12%.

JPMorgan Chase CEO Jamie Dimon also warned of a economic downturn in early October, detailing, "These are incredibly, pretty severe factors which I think are most likely to drive the U.S. and the world — I imply, Europe is now in economic downturn — and they’re very likely to place the U.S. in some form of economic downturn 6 to nine months from now."