Bank of America strategist: Speculation about Fed rate hike is' nonsense ', consumer stocks may welcome the best buying opportunity According to TechFlow, on March 19th, according to Golden Ten Data, Michael Hartnett, Chief Stock Strategist of Bank of America, believes that although the surge in oil prices may exacerbate inflation and drag down the economy, consumer stocks may actually have the best buying opportunity at present. Consumer stocks have fully digested stagflation expectations, "Hartnett said at an event on Thursday. He warned that the rise in oil prices may delay the Federal Reserve's interest rate cut and suppress the stock market in the short term. The S&P 500 index fell to around 6600 points or the ideal entry point. Hartnett refers to current investors as the "quantitative easing generation" - accustomed to central bank actions to rescue the market. He believes that this expectation needs to be broken before policy makers can truly take action. In the long run, he is optimistic about the international market and commodities, calling them the "real bull of the inflation era", and refuting the speculation that the Federal Reserve may raise interest rates in a turbulent situation as "groundless".