Is an ugly recession about to hit in 2024? Steve Hanke tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, that the Federal Reserve is “flying blind” and “doesn't know what it is doing” when it comes to controlling inflation while maintaining full employment. He says that the Fed needs to focus more on the money supply, and explains why he thinks an 'ugly' recession will hit the U.S. economy in 2024. He also discusses gold and his work on currency boards.