Wilbur Ross, former Commerce Secretary, predicts a US recession due to pandemic stimulus aftermath. Despite Wall Street's optimism, Ross cites inflation, high consumer prices, and government job reliance as indicators of a looming recession.

_Artificial Economic Boost_

Ross argues that the $5 trillion in pandemic stimulus artificially inflated the economy, leading to a false sense of security. He warns of a mild recession, stating:

"The economy was artificially propped up... They overdid it."

_Contrasting Views_

Wall Street remains optimistic, pointing to strong GDP and low unemployment. However, Ross's warning highlights the potential risks of a recession.

_Key Points_

- Former Commerce Secretary Wilbur Ross predicts a US recession
- Ross attributes the recession to pandemic stimulus aftermath
- Inflation, high consumer prices, and government job reliance are cited as indicators
- Wall Street maintains a more optimistic outlook

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#WilburRoss #PandemicStimulus

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In a an interview, Foreign Minister Sergey Lavrov cautioned the US against overstepping Russia’s ‘red lines’ regarding the Ukraine conflict. Lavrov highlighted Washington’s diminishing sense of mutual restraint with Moscow, as reported by state-owned TASS news agency. He specifically addressed the US’s actions in supplying arms to Ukraine, stating that Americans have already breached their own ‘red lines’. “They (the US) should understand that our red lines are nothing to fool with. And they know very well where they are,” the report quoted him as saying.

Lavrov said the US is starting to lose its sense of mutual restraint with Russia, calling it “dangerous”. “(US National Security Council spokesman John) Kirby said that the issue of stepping up support for Ukraine should be approached carefully so as not to provoke World War III because it will be sad to see Europe gone,” he said, adding that the US has a “deep-seated conviction that they are untouchable”.

Lavrov said he hoped Washington would realise the potential consequences of supplying Ukraine with weapons. “I am convinced that there are reasonable people with significant influence left there. And I hope that the interests of the US will be taken into account,” he said.

Meanwhile, at a press conference on Wednesday, Kirby said the US welcomes any nation that is willing to try to help end the conflict in Ukraine.

Any nation that is willing to try to help end this war and do so in keeping with President Zelenskyy’s prerogatives, the Ukrainian people’s prerogatives, his plan for a just peace, we would certainly welcome a role like that,” he said.
On Thursday, Russian President Vladimir Putin named India among the three countries he is constantly in touch with over the Ukraine conflict, asserting that they are sincerely making efforts to resolve it.
“We respect our friends and partners, who, I believe, sincerely seek to resolve all issues surrounding this conflict, primarily China, Brazil and India. I constantly keep in touch with our colleagues on this issue,” Putin was quoted as saying in a separate report by TASS.
Putin’s remarks came within two weeks after Prime Minister Narendra Modi’s historic visit to Ukraine, where he held talks with President Zelenskyy.
On August 23, Modi visited Ukraine, where he conveyed to President Zelensky that Ukraine and Russia should sit together without wasting time to end the ongoing war and that India was ready to play an “active role” to restore peace in the region.