The current macroeconomic climate is highly uncertain. The likelihood of a recession is high as the Fed will likely keep raising interest rates, and lending standards are expected to be tightened. Minutes from the Fed’s March meeting show that the staff believes the economy could be in a mild recession by the end of the year.
Pharma stocks usually perform well during a recession as their demand remains stable irrespective of the economic cycle, helping them maintain their profit margins. To that end, Merck & Co., Inc. (MRK) could be an ideal stock to invest in now.
