Federal Reserve’s money-supply growth trending sideways

Celebrated economist Steven Hanke recently warned that 0% money supply growth will trigger a recession in 2023.

But the Federal Reserve’s money supply growth has not declined. Instead, it has trended sideways this year, with some weeks showing considerable growth.

But, overall, money supply expansion is not what it was even a year ago.

Here is a look at the state of the money supply so far this year:

The more than $6 trillion created out of thin air in two years has already resulted in 40-year high inflation. But, as we have seen in the United Kingdom, taking away the punch bowl could trigger a tsunami of problems for the broader financial markets.