Bank of America (BofA) chief investment strategist Michael Hartnett said Bitcoin and other cryptocurrencies could outperform bonds and stocks. in the midst of a potential recession. in the last note He argued that the new policy of the US Federal Reserve (Fed) could push most of the country and the world into such economic conditions.
After years of efforts to combat the consequences of the COVID-19 pandemic with a growing balance sheet expansion, which is now worth about $9 trillion. Federal Reserve Bank It changed its guidance at the beginning of 2022, meaning that after more than doubling its balance As of March 2020, the Fed has decided to start slashing.
Reutersreport“The macroeconomic picture is rapidly deteriorating” and could lead to a recession for the world’s largest economy.
Hartnett warned bank clients that most assets would face massive volatility using harsh words such as “inflation worsening, this alarming rate is just beginning, a recession is coming.” Stocks will perform lower than other stocks.
Lastly, Bank of America’s Michael Hartnett warned that these recent Fed actions could lead to a recession, but cryptocurrencies are not the only ones. may become a winner
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