The US economy will sink into a recession - and stocks will feel the squeeze, top economist Steve Hanke says

• The US economy will suffer a recession that could hit stock prices, Steve Hanke warned.
• The veteran economist sees inflation tumbling and the Fed cutting interest rates later this year.
• Hanke flagged the shrinking US money supply as the key reason why a recession lies ahead.

The US economy will slump into recession, putting stocks under pressure, Steve Hanke has warned.

The professor of applied economics at Johns Hopkins University also said inflation is fading fast, paving the way for the Federal Reserve to cut interest rates later this year. He shared the mixed outlook during a recent Capital.com interview.