A Johns Hopkins economist Steve Hanke issued a warning 2 months ago that the economy was flashing a recession or even a depression. His assertions are based upon a contraction in the money supply which has only been seen 4 times in the last century. On every occasion that economic situation has led to a recession or depression. Hanke predicts that the recession/depression will occur in late 2024 or early 2025. One should contemplate what the Job market revision of up to 1,000,000 fewer jobs may portend for Hanke's warning.
Hanke's warning along with other relevant discussion regarding the number of and amount of the Fed's rate cuts by year end and 2025 are discussed as well in a story by Jennifer Sor, at jsor@bussinessinsider.com.
Hanke's warning along with other relevant discussion regarding the number of and amount of the Fed's rate cuts by year end and 2025 are discussed as well in a story by Jennifer Sor, at jsor@bussinessinsider.com.
