{"id":1453029,"date":"2022-04-25T14:29:36","date_gmt":"2022-04-25T18:29:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1453029"},"modified":"2022-04-25T14:29:38","modified_gmt":"2022-04-25T18:29:38","slug":"economist-world-in-early-stages-of-very-significant-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economist-world-in-early-stages-of-very-significant-recession\/","title":{"rendered":"Economist: World in Early Stages of \u201cVery Significant\u201d Recession"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feconomist-world-in-early-stages-of-very-significant-recession%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1453029&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2020\/03\/2E212A2E-8C6F-4245-8404-A90708934521-scaled.jpeg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><span>Nancy Lazar \u2014 the chief global economist of investment bank Piper Sandler \u2014 said on Monday that the world is in the first part of a \u201cvery significant\u201d recession.<\/span><\/p>\n<p><span>During an interview with <\/span><a href=\"https:\/\/www.foxbusiness.com\/economy\/world-in-early-stages-of-very-significant-recession-economist-nancy-lazar\"><span>Fox Business<\/span><\/a><span>, Lazar told anchor Maria Bartiromo that \u201cIt\u2019s going to be a global recession pulling down [the] Euro zone in particular\u201d and noted that \u201cit looks like China GDP in the second quarter could also be negative.\u201d<\/span><\/p>\n<p><span>Lazar added that economic activity in the United States \u201cwill feel very, very weak\u201d as growth slows down from last year\u2019s recovery.<\/span><\/p>\n<p><span>\u201cNow 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\u2019s still a very significant slowdown from roughly 6% last year,\u201d Lazar explained.<\/span><\/p>\n<p><span>She added that similar fears of a recession occurred in 2015 and 2016.<\/span><\/p>\n<p><span>\u201cYou didn\u2019t get it, in part because the backbone of the United States is pretty healthy, which we still think is the case,\u201d she told Bartiromo. \u201cBut, nonetheless, outside of the United States, indeed you do get a recession, led by the Euro zone given what\u2019s going on with oil prices and global interest rates.\u201d<\/span><\/p>\n<p><span>Indeed, economists have been eyeing the broader impacts of high energy prices and the tapering of aggressive monetary policy.<\/span><\/p>\n<p><span>President Joe Biden\u2019s tenure in the White House has been marked by surging gas prices, with costs at the pump further accelerating due to the Russian invasion of Ukraine. As of Monday morning, the average price of regular gas is $4.12, according to <\/span><a href=\"https:\/\/gasprices.aaa.com\/\"><span>AAA<\/span><\/a><span>.\u00a0<\/span><\/p>\n<p><span>\u201cOver the past 15 months, we\u2019ve seen inflation grow higher than any time in the last 40 years. Perhaps the most painful driver of inflation has been the skyrocketing cost of gasoline at the pump,\u201d Sen. Ted Cruz (R-TX) recently <\/span><a href=\"https:\/\/www.dailywire.com\/news\/this-is-not-putin-this-is-joe-biden-senator-ted-cruz-blasts-biden-admin-over-spiking-gas-prices\"><span>told<\/span><\/a><span> the Senate Committee on Commerce, Science, and Transportation.\u00a0<\/span><\/p>\n<p><span>Meanwhile, the Federal Reserve recently made its first move to raise interest rates, thereby increasing the cost of borrowing money and making loans more expensive. Earlier this month, The 30-year mortgage rate <\/span><a href=\"https:\/\/www.dailywire.com\/news\/mortgage-rates-hit-highest-level-in-over-a-decade\"><span>surpassed<\/span><\/a><span> 5%, rendering homeownership more expensive for American families.<\/span><\/p>\n<p><span>\u201cAs Americans contend with historically high inflation, the combination of rising mortgage rates, elevated home prices and tight inventory are making the pursuit of homeownership the most expensive in a generation,\u201d government-backed mortgage company <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span>Freddie Mac<\/span><\/a><span> explained.<\/span><\/p>\n<p><span>Lazar said that higher interest rates will help to curb breakneck inflation in the United States.<\/span><\/p>\n<p><span>\u201cI think we are going to have significant goods deflation,\u201d she told Bartiromo, pointing to the price of used cars as an example. \u201cWe\u2019ve seen used cars decline 6% just in a few months.\u201d<\/span><\/p>\n<p><span>The end of soaring price levels \u2014 despite relief offered to consumers \u2014 would be harmful to companies\u2019 margins.<\/span><\/p>\n<p><span>\u201cOn the one hand that\u2019s positive in that you are going to send, obviously, the CPI significantly lower over the next year,\u201d Lazar said, \u201cbut on the other hand, it\u2019s not going to be pretty in that it\u2019s going to affect company earnings, through lower earnings via weaker demand for products and also declining prices.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same? <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>Become a member now and join our mission<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nancy Lazar \u2014 the chief global economist of investment bank Piper Sandler \u2014 said on Monday that the world is in the first part of a \u201cvery significant\u201d recession.During an<\/p>\n","protected":false},"author":498,"featured_media":1888550,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1453029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1453029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1453029"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1453029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1888550"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1453029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1453029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1453029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}