Jeff Bezos, Elon Musk and Charlie Munger have warned of a US recession. Carl Icahn, Jamie Dimon and Ken Griffin have flagged an economic recession. Here are 11 recession warnings from top executives, investors and academics.
Jeff Bezos, Elon Musk and Ken Griffin have warned about a possible US recession, joining the chorus of CEOs, investors and academics predicting a prolonged economic downturn.
Carl Icahn, Jamie Dimon and Charlie Munger also warned that the economy could shrink in the fourth quarter of 2022 and unemployment could rise. Global trade is being disrupted by the Russia-Ukraine war and China’s ongoing lockdown.
1. Elon Musk, CEO of Tesla, SpaceX and Twitter:
Elon Musk said that we are heading towards a recession here in 2023. My best guess is that we have a year to a year and a half of storm time, and then dawn in the second quarter of 2024.
2. Jeff Bezos, Amazon
Jeff Bezos said the economy isn’t looking great right now and things are slowing down. Probabilities say that if we are not in a recession now, we may be in a recession very soon.
3. Ken Griffin, CEO of Citadel:
Ken Griffin said, for the Fed to really get inflation under control here, we’re going to have unemployment somewhere in the middle of 4%. I find it hard to believe that by then, the middle to back half of 2023, we won’t have a recession.
4. Charlie Munger
Charlie Munger said, “I think the Fed is ready for a brief recession to prevent inflation from spiraling out of control.” That’s what they have to do. He is known at the party as a person who does not drink alcohol around the punch bowl.
5. Carl Icahn, Chairman of Icahn Enterprises:
As Carl Icahn said, whenever you have high interest rates that have shifted as here, you have an inverted yield curve, Treasuries close to 5% yield you are going to have a recession. A lot needs to be done to turn this economy around to get us out of recession.
6. JP Morgan CEO Jamie Dimon:
JP Morgan said, there is a possibility of a slight slowdown. And it’s likely to get worse, mostly because of the war in Ukraine and oil prices and all that sort of thing.
7. David Solomon, CEO of Goldman Sachs:
Usually when you find yourself in this kind of economic scenario where inflation is embedded, it’s very difficult to get out of it without a real economic downturn. Recession is most likely to happen in America.
8. Leon Cooperman, CEO of Omega Advisors:
Omega Advisors said the combination of a stronger dollar and lower oil prices would create a recession in the second half of 2023. We have driven up demand because of very unfair fiscal and monetary policies, and ultimately the price is coming down. be paid.
9. Greg Jensen, Co-CIO of Bridgewater Associates:
Greg Jensen said, we are expecting a much bigger downturn than the market is expecting. You probably won’t see the bottom of the equity markets until they go down six to seven months from now. You probably won’t see the end of the bottom half of the economy for the next nine months.
10. Nouriel Roubini, NYU Stern economist known as “Dr. Doom”:
History tells us that surviving a hard landing is going to be a nearly impossible mission, said Nouriel Roubini. You’re going to get not just inflation, not just recession.
11. Ken Rogoff, Harvard Economist:
Ken Rogoff said you really have to look at the world, which is in bad shape. It is very difficult for the United States to oppose it. I’m concerned that not only are we going to get a mild recession, I think we’re going to get a significant recession, quite a lot in fact.