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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.

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