Schwab's Sonders: 'Recession is a great cure for an inflation problem'

It's Money Life at Morningstar, the first of three days of interviews from the Morningstar Investment Conference in Chicago. Liz Ann Sonders, chief investment strategist at Charles Schwab and Co., says that the market appears to be banking on a near-term recession, in which it takes the pain and the ill-tasting medicine, thereby allowing the Federal Reserve to take its foot off the economic brake. As a result, a recession sooner rather than later would be helpful for the economy. She kicks off seven interviews, including "Super Mario" -- legendary fund manager Mario Gabelli of the Gabelli Funds -- bond fund manager Warren Pierson of the Baird Funds, asset-allocation strategist Som Priestley of T. Rowe Price, Dan Lefkovitz of Morningstar Indexes, Nate Velarde of Chautauqua Capital talking international investing, and Alison Susko of Asset Map, a fin-tech company helping investors get a better handle on their finances.