Urging Americans to be careful with credit cards and get ready to 'hunker down,' Piper Sandler's Nancy Lazar details the policy change needed to see an economic turnaround.
Piper Sandler chief global economist Nancy Lazar details her economic expectations for the second half of the fiscal year on ‘Mornings with Maria.’
"Simultaneously, we have to deal with the budget deficit and we have to curtail government spending, and we have to do entitlement reform, including," Lazar continued. "And you're not talking about cutting Social Security checks. What you're doing is talking about elongating the time in which people can actually receive their Social Security… We did this with Greenspan and Reagan back in the early 1980s. It was very successful.
Lazar expressed hopes that America’s economic future will have a sustainable, low inflationary environment with more labor force participation. "But we need change. We need less government entitlement spending. We need a lower budget deficit. We need a sustained period of low inflation. And I can see that on the horizon," Lazar pointed out, "but it's going to take a lot of tough decisions in Washington for that to happen. And as of now, they're not doing it."
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