The founder of “Microsoft”, the American billionaire, Bill Gates, predicted that interest rates may rise enough to cause a global economic slowdown, caused by the repercussions of the “Corona” pandemic and the Russian military operation in Ukraine.
And he said, yesterday, Sunday, in statements to the American “CNN” network: “I fear that the bears in this matter have a very strong argument that worries me a lot,” and he means pessimistic investors about the state of the economy and markets, according to the American “Bloomberg” agency.
The businessman pointed out that “the Russian military operation in Ukraine has led to a rise in commodity prices, and comes in the wake of the Corona epidemic, where the levels of government debt were already very high, and there were already some problems in the supply chain.”
Bill Gates added that “many countries, including America, Britain and India, have started raising interest rates in an attempt to curb inflation, which will eventually lead to an economic slowdown.”
Gates’ fortune is $123 billion, making him the fourth richest person in the world in the Bloomberg Billionaires Index. “This will eventually lead to an economic slowdown.”
Last month, the International Monetary Fund cut its global growth forecast by the most since the early months of the Corona epidemic, predicting faster inflation due to the military operation in Ukraine, and the renewed closure of China due to the high cases of (Covid-19) infection.