Home » Politics » Russia launching 'cyber war' against US is the 'biggest risk' for Americans, Harvard economist says
Russia launching 'cyber war' against US is the 'biggest risk' for Americans, Harvard economist says
Russia launching 'cyber war' against US is the 'biggest risk' for Americans, Rogoff says
Harvard economist Kenneth Rogoff discusses the fallout from Russia's invasion in Ukraine as U.S. monitors cyber threats.
Kenneth Rogoff, former IMF chief economist, joined "Mornings with Maria" Friday to discuss the potential negative impacts from Russia's invasion of Ukraine to the U.S.
Rogoff insisted the "biggest risk" Americans could face is a "cyber war" waged by Russia in retaliation for the massive sanctions imposed on the country.
The concerns come after a homeland security source with knowledge of the situation told FOX Business on Thursday that the cyberthreat against the U.S. from Russia is still active and has not changed since Russia launched the invasion.
RUSSIAN ATTACK ON UKRAINE COULD EXACERBATE ALREADY-HIGH ENERGY COSTS
"Emotional decisions are made, tempers rise," Rogoff told FOX Business' Maria Bartiromo.
The situation unraveling in Ukraine has escalated significantly, prompting Biden and European allies to ramp up economic measures in hopes to stifle Russian President Vladimir Putin's efforts.
Black smoke rises from a military airport in Chuguyev near Kharkiv on February 24, 2022. (Photo by Aris Messinis / AFP) (Photo by ARIS MESSINIS/AFP via Getty Images) ((Photo by ARIS MESSINIS/AFP via Getty Images / Getty Images)
"If we [U.S.] strike out more and more at Putin, let's say cut him off from sweat, you know he is going to engage in cyber warfare. There's no doubt we will counter. They may counter," the economist explained.
RUSSIAN GROUND FORCES NEAR KYIV, EXPLOSION DEVASTATES UKRAINIAN CAPITAL: LIVE UPDATES
Rogoff, as well as many experts have sounded the alarm on the looming threat of cyberwarfare aimed at Americans as a result of Russia's actions.
The "cyber war experts I speak to are really concerned," the economist stressed.
The "odds of a cyber war that gets out of hand have risen markedly," Rogoff added when discussing the matter with Bartiromo.
Ukraine National Bank suspends most foreign exchange transactions
Former IMF chief economist Kenneth Rogoff discusses the Central Bank of Poland reportedly offering $1 billion to Ukraine National Bank to help international reserves and the impact Russia's invasion in Ukraine will have on the U.S. economy.
Lawmakers being briefed on the cyber threats are urging their constituents to stay vigilant during these times.
In a tweet Thursday, Sen. Mark Warner, D-Va., encouraged "all Americans and businesses to strengthen their cyber defenses in light of the possibility of disruptions."
As Washington remains on high alert regarding the cyber concerns, the potential economic fallout from the invasion has conjured up distress among the U.S. and its allies as some are reliant on Russia for gas.
"Germany and Italy are hugely dependent on Russian gas. If there's a cut off, there's a sure-fire recession in those countries, a deep one," Rogoff pointed out.
CLICK HERE TO READ MORE ON FOX BUSINESS
FOX Business' Megan Henney contributed to this report
Earnings Previews: Blink, Canoo, Lucid, Luminar, Velodyne Lidar
5 Meaningful Ways to Help the People of Ukraine Right Now, Even If You Live Far Away