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
#RecessionWarning #usdoller Economy
