FX.co ★ Bill Gates warns of global economic slowdown

Bill Gates is concerned that the worst may still be ahead. The Microsoft co-founder predicts a global economic slowdown and notes that the world’s economy has already started to weaken. He is sure that rate hikes implemented by central banks worldwide will accelerate the economic downturn, triggered by the Russia-Ukraine conflict and the fallout from the COVID-19 pandemic. Speaking about those who bet on the falling market, Bill Gates says that he is afraid that “the bears on this one have a pretty strong argument that concerns me a lot.” The billionaire explains that Russia’s invasion of Ukraine, which sent commodity prices soaring, “comes on top of the pandemic, where government debt levels were already very high and there were already some supply chain problems.” Many countries, including the US, UK, and India, have raised interest rates in an attempt to tame galloping inflation. This will eventually result in an economic slowdown, Gates said.