With the central bank looking unlikely to pivot anytime soon, fears are mounting on Wall Street that a recession could be in the cards for next year.
Such economic conditions could fare well for consumer staples companies, which tend to perform well regardless of economic turbulence since consumers tend to buy necessities like food and household products no matter what.
Consumer staple companies will "be able to keep putting up solid earnings growth even as most other industries will experience down numbers," Cramer said.
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