With signs of the Fed winning the battle to tame inflation in America, and as the money supply shrinks sharply, the real issue now facing America is the risks of recession, according to DICK BOVE, chief financial strategist at Odeon Capital Group. Will it be a mild, moderate or deep recession? That is the crucial question, says BOVE. "The Fed is very nervous at the moment," he adds, given the market indicators. "Listening to some Fed governors, it sure seems some of them think we're getting closer to causing harm to the economy than they mean to," said MAT VAN ALSTYNE, Odeon co-founder and managing partner. "Listening to [Fed Chairman] Powell, it looks like he's full steam ahead, let's crash this economy."

Meanwhile, the demise of crypto platform FTX is shaking the foundations of the financial system. "It is having a [huge] multi-billion dollar impact," says BOVE. While FTX reportedly has liabilities of $8 billion following its collapse, the wider market losses for multiple industry crypto players is estimated at over $1 trillion. Elsewhere, the CONVERSATION turns to China and its competition with the US for superpower economic status. Also examined is global hot spot, Iran. Joining the CONVERSATION is JOHN AIDAN BYRNE.

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