Three big-name tech billionaires have been hit with sizable blows to their net worth as the technology sector has soured in recent days.
"The simple fact of the matter is both fiscal and monetary policy blew it," William A. Galston, Ezra K. Zilkha chair and senior fellow of governance studies at The Brookings Institution, told FOX Business. "If there had been an accurate assessment of say the last six months of the Trump administration as to how much stimulus had already been poured into the economy and what its consequences could be," inflation may not have spiked to 40-year highs, he explained.
Jeff Bezos and Lauren Sanchez attend the Robin Hood Benefit 2022 at Jacob Javits Center on May 9, 2022, in New York City. Morgan Stanley’s team of strategists, helmed by Seth Carpenter, warned Monday that the ingredients for a global recession are "on the table."
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