US economist signals a painful 'reckoning' looming over markets

Nearing the end of a wild week for the stock market, one U.S. economist cautioned this may be just the beginning of a "reckoning."

"There's a lot of pain ahead of us, both for the economy and this reckoning for the markets that have been really behind the curve, like the Fed," Macromavens President Stephanie Pomboy said on "Mornings with Maria" Thursday.

"People view the likelihood that inflation will outstrip their income as higher today, than they did when the unemployment rate was...