The current economic conditions in the US may lead to a mild recession as the impact of past stimulus payments dissipates, revealing underlying economic issues.
Wilbur Ross warns that the US economy, artificially bolstered by $5 trillion in stimulus during COVID, is facing a downturn as the effects wear off.
Inflation soared to a 23-year high in 2022 due to a surge in demand spurred by stimulus checks, without a corresponding increase in supply.
Ross notes that many jobs created post-pandemic were government-related, highlighting a lack of productive economic growth and potential supply chain issues.
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