The drive for extra income will have more people working into their 80s or even 90s, he said.
Housing, insurance and commodity prices have been among the contributors.
Banks are under increased pressure from consumers to pay out more for deposits.
Corporate job cuts have caused some workers to be laid off more than once.
Federal Reserve Chair Jerome Powell pointed to the lack of additional progress made on inflation.
Global economic activity will expand 3.2% this year, the financial institution said.
The economist said that the likelihood of the Fed hiking interest rates is low, but not zero.
Almost $9 trillion sitting in money market funds is set to be a “very big force” in the equity market, he said.
There are $52 billion of long positions on the S&P 500 and 88% of them are in a loss.
By some key gauges, the expansion is as strong or even stronger than it was when the Fed began lifting rates.
UBS strategists see a growing possibility that inflation fails to decline to the Fed's target.
World leaders must show they can fulfill their promises about mitigating the climate crisis.
A new report points to plenty of momentum in consumer spending heading into the second quarter.
Confidence for a relatively shallow drawdown is supported by broad market breadth, cyclical leadership trends and economic resiliency.
Lots of new units hitting the market helped stabilize things this year, but there's already reason to worry.
The investment company is forecasting that inflation will finish the year at about 3.5%.
Global yields rose today as markets adjusted to central banks keeping interest rates higher for longer.
Fed President John Williams said he expects “bumps along the way” in the effort to rein in inflation.
New York area airports have improved their standing after multibillion-dollar improvements.
But they also think volatility will continue over the year.