Gregg Smith, the founder of Evolution VC Partners, weighs in on whether he believes a recession is imminent and explains why Amazon could be a leading indicator.
He went on to note that the tech giant’s "massive media business, which does in excess of $30 billion in revenues," will shed light into "what’s happening from the enterprise in the corporate customer in terms of dialing back spend."
A recession refers to a contraction in gross domestic product activity, the broadest measure of goods and services produced across the economy, for two consecutive quarters. Many economists and analysts are wondering whether the Fed can successfully engineer the elusive soft landing — the sweet spot between tamping down demand to cool inflation without sending the economy into a downturn. Hiking interest rates tends to create higher rates on consumer and business loans, which slows the economy by Amazon is a key recession indicator given its footprint in the economy and markets, Evolution VC Partners founder Gregg Smith argues.
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