Bank of America strategist Hartnett recommends going long on U.S. consumer stocks, betting that policy panic will avert a recession.

Gate News reported that on March 28, Michael Hartnett, a strategist at Bank of America, stated in a client report that investors should buy consumer stocks, betting on a “policy panic” as the United States works to prevent the economy from falling into a recession. Hartnett believes that once the Middle East conflict is resolved, President Trump is likely to push for a series of measures to protect American consumers from the impacts of an economic downturn and maintain his support among voters. Hartnett noted, “We believe there will be a policy panic aimed at avoiding recession.” He stated that Trump will seek to pivot “post-war to address affordability issues and declining approval ratings.”