ECONOMY
Steve Hanke says we’re going to have one ‘whopper’ of a recession in 2023
“We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he told CNBC’s “Street Signs Asia” on Monday.
Steve Hanke says we’re going to have one ‘whopper’ of a recession in 2023
- The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates.
- “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he told CNBC’s “Street Signs Asia” on Monday.
- Meanwhile, inflation is going to remain high because of “unprecedented growth” in money supply in the United States, Hanke said.
“We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t even looking at it,” he told CNBC’s “Street Signs Asia” on Monday.
Steve Hanke says we're going to have one 'whopper' of a recession in 2023
"The problem we have is that the [Fed Chair Jerome Powell] does not understand ... what the causes of inflation are and were," said the Johns Hopkins professor.
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