On Fox’s “Mornings with Maria,” Piper Sandler Chief Global Economist Nancy Lazar warned that the world is in the early stages of a “very significant” and “synchronized” recession. She said that a recession is expected outside of the U.S. “…Outside of the United States, indeed you do get a recession, led by the Euro zone given what’s going on with oil prices and global interest rates,” Lazar said. In other news, market experts have been predicting that gold prices will once again hit record highs. A recent Yahoo Finance article breaks down why the yellow metal is more than just a popular inflation hedge.
Fox Business/Talia Kaplan
World in early stages of ‘very significant’ recession: Economist Nancy Lazar
Piper Sandler chief global economist Nancy Lazar warned on Monday that the world is in the early stages of a “very significant” and “synchronized” recession.
In an appearance on “Mornings with Maria” Monday, Lazar noted that a recession is expected outside of the United States.
“It’s going to be a global recession pulling down [the] Euro zone in particular,” she told host Maria Bartiromo. “It looks like China GDP [Gross domestic product] in the second quarter could also be negative.”
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Yahoo Finance/Jared Blikre
Why the price of gold is heading for a ‘modest new all-time high’: Morning Brief
After the new highs in 2020, gold backed off and consolidated into early 2022 before breaking out in February. BofA Securities’ Paul Ciana’s $2,175 price target uses a so-called measured move, which is calculated by adding the price range of the consolidation to the breakout apex.
Ciana also lays out the bear case for gold. The risk to his bullish view is a potential “double top” formed by the twin peaks of 2020 and 2022. “Gold would need to start selling off in the next 1-2 months, such as below the last breakout point of $1,840, to entertain the possibility of a double top and large decline,” he wrote.
How high can gold soar? That $2,175 price target is only about 11% from the current price, but it’s also only a technical target in play this year. What happens beyond then, and whether gold serves as a good hedge against the current inflationary backdrop remains to be seen.
Read the full story, here.
CNN Business/Nicole Goodkind
Here’s how the Senate could change your 401(k) plan
The US Senate has retirement on the brain, and it’s not because the average age of the legislative body is 64. A group of new bills that could change the way Americans save for retirement have landed on lawmakers’ desks this spring.
The proposals have broad, bipartisan support and a clear path forward, say experts. If Senators are able to reconcile their ideas into a concise package, President Joe Biden could sign the changes into law before Congress’ August recess.
Here’s a look at the changes under consideration.
You can read the full story, here.