Morgan Stanley Forecasts US Recession in 2024 Due to Fed Rate Hikes and BRICS Challenge to Dollar

Morgan Stanley predicts a "hard landing recession" for the US in next 18 months due to Federal Reserve's fight against inflation
Chief economist Ellen Zentner says full impacts of Fed's rate hikes won't be felt until 18 months after final increase
Prediction comes as BRICS alliance sees growth from expanded de-dollarization efforts
Weakened US Dollar combines with BRICS actions against greenback to set stage for tragic year ahead
Federal Reserve taking wait-and-see approach on rate cuts, now expected in summer 2024 rather than March