Bill Gates said interest rates would likely rise enough to trigger a global economic slowdown caused by Russia’s invasion of Ukraine and the fallout from the Covid-19 pandemic.
“I’m afraid bears have a pretty strong argument about Bill Gates this. Which worries me a lot,” Gates told NEWS Fareed Zakaria GPS.
The philanthropist, billionaire, and Microsoft co-founder said the war in Ukraine. Which has caused soaring commodity prices, is “at the height of the pandemic. Where the national debt is already very high. And there are already some supply chain problems.”
Many countries, including the United States, Britain, and India, have already started raising interest rates to reduce inflation. This “will eventually lead to an economic slowdown,” said Gates. Who will become the world’s fourth-richest person with $123 billion in the Bloomberg Billionaires Index. Last month, the International Monetary Fund cut its forecast for global growth mainly from the first few months of the pandemic. Forecasting faster inflation due to the war in Ukraine and the new virus lockdown in China.