# Bank of America's Michael Hartnett says the U.S. dollar is under pressure.

*fintech · news · 2026-04-17 · CNBC*

## Key points

- Bank of America expects the Fed to cut rates and favor a weaker dollar over higher yields.
- Kevin Warsh is nominated as the next Federal Reserve chair, likely pushing for lower rates.
- Commodity prices are projected to rise due to hedging demand and intensified geopolitical competition for resources.
- Hartnett recommends buying China and consumer discretionary stocks as contrarian trades for 2024.

**Companies:** Bank of America
**Countries:** United States, China

[Read the full story on CNBC](https://www.cnbc.com/2026/04/17/bank-of-americas-hartnett-backs-two-trades-to-play-lower-rates-ai-war.html)

---

Canonical: https://newsio.io/n/4d1cf7de-fc13-43e5-8701-9dad7317b693/bank-of-americas-michael-hartnett-says-the-u-s-dollar-is-under-pressure-he-says
Summarized by Newsio from CNBC. https://newsio.io/how-it-works