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>> IS REALLY SITTING ON A VOLCANO. >> THIS IS TODAY ON THE 700 CLUB. >>> WELCOME TO THE 700 CLUB. THANK YOU SO MUCH FOR JOINING WITH US. MANY PREDICT A RECESSION IS AN MINUTES. SOME SAY IT IS ALREADY UNDER WAY. THAT IS NOW THE CONSENSUS AMONG ECONOMISTS 'S. >> ONE REASON IS THE FEDERAL RESERVE SHARPLY RAISED INTEREST RATES TO BRING DOWN AND OVERSTIMULATED ECONOMY. IT IS PUSHING THE COUNTRY INTO A RECESSION. CAITLIN BURKE EXPLAINS. >> Reporter: ONE HE FACTORS THE MONEY SUPPLY. IN 2020, FEAR OVER PANDEMIC SHUTDOWN PROMPTED THE FEDERAL RESERVE TO BEGIN PUMPING MORE THAN $6 TRILLION INTO THE U.S. ECONOMY TO COMBAT UNEMPLOYMENT AND PROMOTE ECONOMIC GROWTH. CONGRESS INJECTED CLOSE TO ANOTHER 6 TRILLION IN STIMULUS RELATED SPENDING. THE RESULT? AND OVERSTIMULATED ECONOMY. >> THE REASON WE HAVE SUCH HIGH INFLATION NOW IS THAT THE MONEY SUPPLY IS GOING SO FAST IN 2020 AND 2021. THAT IS STILL IN THE SYSTEM. THAT IS STILL DRIVING THINGS....