IMF head warns that third of world economy to hit recession in 2023

2023 is going to be a tough year for global economies as the driving economies of global growth — the U.S., Europe and China — all experience weakening activity, according to the head of the International Monetary Fund. The new year is going to be, “tougher than the year we leave behind,” IMF managing director Kristalina Georgieva said on CBS's Face the Nation on Sunday.

Why is this happening? How bad could it be? KPMG's chief economist Diane Swonk joins Here & Now's Deepa Fernandes to discuss.