Recession seems almost certain with 19 states in trouble already, expert warns

• A recession threatens to pummel households, businesses, and the stock market.
• Piper Sandler's Nancy Lazar warned of tighter credit and the full fallout from the Fed's rate rises.
• Unemployment has jumped in 19 states, making a national recession almost inevitable, Lazar said.

Get ready for a recession that hammers consumers, squeezes companies, and drags down stocks, a veteran economist warned.

"There is a very high probability of a recession," Nancy Lazar, Piper Sandler's chief global economist, told WealthTrack in a recent interview.