Economist Steve Hanke warns that the Federal Reserve acted too late to prevent a recession, pointing to a shrinking U.S. money supply, a precursor to past economic downturns. Hanke suggests that risk assets like stocks are overpriced and recommends safer investments in U.S. Treasuries and gold, which he expects to perform well as the economy weakens. Hanke cautions against speculative assets like bitcoin due to anticipated volatility. Hanke also critiques the economic policies of both Donald Trump and Kamala Harris ahead of the 2024 U.S. presidential election, warning of potential harm to the already fragile economy.
US still faces recession, warns economist before possible interest rate cut
Sep 17, 2024
Article from Yahoo Finance by Brian McGleenon
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