Keep cash on hand, don't buy TV, fridge this holiday season: Jeff Bezos

He said consumers should postpone buying big basket items and businesses should also go slow on acquisitions until the situation improves

Amazon founder and billionaire entreprenuer Jeff Bezos has advised the American people to avoid large purchases such as new TVs, refrigerators or cars and “keep some dry powder on hand” during the coming holiday season as the US economy is likely to be in a recession soon, according to a report in the CNN.
 

The tycoon had last month tweeted to his followers “to batten down the hatches”. When asked about the tweet, he told the American network in an interview that the advice was meant for business owners and consumers alike.
 

He said consumers should postpone buying big basket