The US is dealing with a rare bifurcation of the economy, and it's raising the odds of recession, Piper Sandler chief economist says

• The US economy is facing a rare and difficult bifurcation, says Piper Sandler's head economist.
• Big companies have withstood or even benefited from high rates, while consumers are feeling the squeeze. 
• The economist forecasts 53% odds of recession but adds that one is needed to bring down inflation. 

The US is navigating a "bifurcated" economy that's only been seen twice before, with both times ending in a recession, according to a top economist.

Nancy Lazar, Piper Sandler's chief global economist, told Fox Business Network on Wednesday that the current economic backdrop is "very difficult" and "very unusual," and occurred only during the energy crisis in 1978-1979 and the latest Great Recession in 2008.