That's because a recession and credit event could be in store before the Fed eases monetary policy.
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AdvertisementAdvertisementStocks could have more room to fall, as investors face a possible recession and a credit event before the US central bank pulls back on its restrictive monetary policy, according to Bank of America strategists.
In other words, the bank sees more turbulence ahead before stock market investors get their long-awaited dovish pivot from the Fed.
Meanwhile, fund managers see a credit event as one of the top risks to the market, Bank of America found in a recent survey.
Persons:
Stocks, —, Michael Hartnett, Jerome Powell
Organizations:
Bank of America, Service, New, Fed