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Bank of America strategist Michael Hartnett has advised investors to sell stocks in anticipation of the Federal Reserve's first interest rate cut. Hartnett warns that the likelihood of a severe U.S. recession is increasing, which contrasts with a prevailing consensus that suggests a soft landing or no economic downturn. He notes that the risks of a hard landing are rising, indicating a shift in market sentiment regarding future economic conditions. This outlook suggests that stock prices may decline following the Fed's initial rate cut, as investors react to the heightened recession risks.
Stocks are likely to fall when the Fed delivers its first interest-rate cut, according to Bank of America strategist Michael Hartnet https://t.co/Bq3RRmjLvt
Stocks are likely to fall when the Fed delivers its first interest-rate cut, according to Bank of America strategist Michael Hartnet https://t.co/bjkHv44jpI
Bank of America strategist Michael Hartnett advises selling stocks on the first Fed rate cut due to increasing risks of a severe US recession. "Hard landing risks are clearly rising, contrasting with the consensus view of a soft-landing or no-landing scenario. The ISM…