Bank of America strategist Hartnett recommends going long on U.S. consumer stocks

Golden Finance reports that on March 27, Bank of America strategist Michael Hartnett said investors should buy consumer stocks to bet on the “policy panic” as the U.S. works to prevent the economy from falling into a recession. In a client note, the strategist said that once the Middle East conflict is resolved, U.S. President Donald Trump is likely to push through some measures to protect American consumers from the shock of an economic downturn and maintain his approval rating among voters. Hartnett said: “We believe there will be a policy panic aimed at avoiding a recession.” He said Trump will seek to “shift after the war” to address affordability issues and support a slide in approval ratings.