Pedestrians in front of the Bank of America Tower in New York. Photographer: Michael Nagle/Bloomberg.

As “stagflation” makes its way back into the lexicon of the Wall Street crowd, strategists at Bank of America Corp. (BofA) have a blueprint to navigate the bleak economic landscape.

Ultimately, it’s fairly straightforward, according to Savita Subramanian, BofA’s head of U.S. equity and quantitative strategy: Stick with companies with solid fundamentals capable of churning out a steady stream of profits, as well as those that pay cash dividends. They’re the safest bets, she said in a note dated last Friday, if stagflation—a combination of slowing economic growth and accelerating inflation—does take hold.

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