Amazon founder Jeff Bezos has warned consumers and businesses to postpone large purchases during the holiday season in anticipation of an economic recession.
In an interview with CNN, he advised consumers to keep their cash safe and avoid unnecessary spending.
Due to the recession fear, he advised Americans to avoid purchasing high-ticket items such as expensive cars and televisions.
"Take some risk off the table, keep some dry powder on hand... Just a little bit of risk reduction could make the difference for that small business if we do get into even more serious economic problems. You've got to play the probabilities a little bit," Bezos was quoted as saying.
