Bank of America strategists are expecting an economic “hard landing” to pummel the markets at the end of the year, due to a resilient U.S. economy.
Economists are beginning to fear that a delayed recession in the second half of 2023 will be harsh on stocks, since the current state of the American economy is keeping interest rates higher for longer
Bloomberg reported, that BoA strategists, led by Michael Hartnett, in a Feb. 16 note, predicted a “no landing” scenario for the first half of the year, as economic growth continues to remain strong and the Federal Reserve maintains its hawkish rate policy,
Hartnett said that the period of growth will probably be followed by a “hard landing” in the latter part of the year.
Meanwhile. a …