Nancy Lazar — the chief global economist of investment bank Piper Sandler — said on Monday that the world is in the first part of a “very significant” recession.
During an interview with Fox Business, Lazar told anchor Maria Bartiromo that “It’s going to be a global recession pulling down [the] Euro zone in particular” and noted that “it looks like China GDP in the second quarter could also be negative.”
Lazar added that economic activity in the United States “will feel very, very weak” as growth slows down from last year’s recovery.
“Now we think the United States could not go into a recession. We have still plus 1% GDP for the U.S. this year, but that’s still a very significant slowdown from roughly 6% last year,” Lazar explained.