US Economy Braces for Recession Amid Slowing Growth and Stagflation Warning

Economist Steve Hanke warns that a US recession is imminent following a significant slowdown in economic growth in Q1 of 2023, largely due to the Federal Reserve's failure to control the money supply. The President of the Minneapolis Federal Reserve Bank, Neel Kashkari, also warns of a likely recession as the banking crisis continues to apply pressure on the US economy, with the Fed's tight monetary policies over the past year potentially being the catalyst that starts the contraction of the US economy.