|To be sure, Russia still has a long way to go toward securing any type of victory.
The Pentagon has billions of dollars of pre-approved aid available. And while there are signs of shifting sentiment over assistance for Ukraine, things could change quickly.
A Russian attack on a major city could reinvigorate support, Tom said. Recently, Ukrainian officials said dozens of people died after a Russian missile struck a grocery store and café.
Russia, meanwhile, has its issues. The country is only a few months removed from a failed coup, and its forces appear to be stretched thin. Further complicating things has been the success of Ukraine’s counteroffensive.
But the US economy is fragile, with a new Bloomberg model showing a better-than-50% chance that a recession starts this year. And one major financial executive has warned of the risks of the ongoing war.
JPMorgan CEO Jamie Dimon called the invasion of Ukraine “an inflection point for the free democratic world” during a recent interview. The conflict and US-China tensions pose significant risks to the global economy.
“We’ve dealt with inflation before, we’ve dealt with deficits before, we’ve dealt with recessions before,” he said. “We haven’t really seen something like this pretty much since World War II. There is no playbook.”