On this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon spoke with economist Steve Hanke who shared his concerns about the US economy, predicting that a recession is imminent due to the Federal Reserve's delayed response in cutting interest rates. He emphasised that the US money supply has been shrinking since July 2022, historically a strong indicator of an impending recession. Hanke warned against investing in risk assets like stocks, which he considers overpriced, recommending instead safer investments like U.S. Treasuries and gold. Hanke underscored that changes in the money supply, not interest rates, are the primary drivers of economic trends. He expressed confidence in gold's continued strength and advised investors to reduce exposure to volatile assets like bitcoin. Additionally, Hanke stress that the economic policies of both U.S. presidential candidates were problematic, voicing concerns about their potential impacts on an already fragile economy.