Piper Sandler’s head economist, Nancy Lazar, has predicted a recession in 2024 as the US economy faces a rare and challenging situation where big companies are benefiting from high rates while consumers are feeling the financial pressure. Lazar believes that there is a 53% chance of a recession but thinks it is necessary to address inflation.
According to Lazar, the current economic situation is “bifurcated,” meaning that it’s split into two parts with large businesses thriving and consumers struggling. Large businesses have been thriving due to high interest rates, favorable financial conditions, stock market gains, and government support. However, consumers are struggling with rising debts, inflation eroding wage gains, and higher interest rates.
Lazar emphasizes the need for a recession to address inflation and prevent continued spending and price increases. She expressed concern about persistent inflation and stressed that a recession is necessary to curb excesses and stabilize the economy. Despite forecasting a 53% chance of a recession, she views this as a crucial step in addressing the economic challenges currently facing the US.
After a vote at the 74th FIFA Congress, Brazil has been chosen to host the…
CommonSpirit Health and Anthem insurance have reached an agreement that guarantees individuals with Anthem insurance…
In 2025, the NASCAR All-Star Race will make a return to North Wilkesboro Speedway in…
Sports Illustrated's 60th anniversary Swimsuit Issue brought together a group of legends to grace the…
In recent days, health concerns have emerged at the Mizuho Americas Open in Jersey City,…
The 60th anniversary of the Sports Illustrated Swimsuit Issue was a momentous occasion, bringing together…