Nancy Lazar, Piper Sandler’s chief global economist, has warned of a potential recession in 2024 as the US economy faces a unique situation where big companies are thriving while consumers are struggling. Lazar believes that there is a 53% chance of a recession, but she sees it as necessary to address inflation and prevent continued spending and price increases.
Lazar described the current economic situation as “bifurcated,” with large businesses benefiting from high interest rates, favorable financial conditions, stock market gains, and government support. On the other hand, consumers are facing rising debts, inflation eroding wage gains, and higher interest rates.
To address these challenges, Lazar believes that a recession is necessary to curb excesses and stabilize the economy. She expressed concern about persistent inflation and stressed that it must be addressed to prevent further economic instability. Despite her forecast of a potential recession, she views this as an important step in addressing the economic challenges currently facing the US.
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