1996 Or 1999? Piper Sandler's Top Economist Says This Cycle Looks Familiar

Nancy Lazar, Piper Sandler's chief global economist and head of the firm's economics research team, was featured in a two-minute audio clip for clients on Sunday outlining why the U.S. consumer and housing backdrop may soon improve if oil prices have topped and peak inflation materializes.

Lazar's main argument is that if the recent slide in crude marks the end of the energy shock, inflation pressures should begin to ease, real incomes should improve, and consumer spending could reaccelerate.