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In the face of an election and tightening financial conditions, the United States is in desperate need of fiscal stimulus, two strategists say.
"We need to see what's going to happen with the new administration and Congress in the first 100 days," Deutsche Bank's David Bianco said Thursday. "This economy does need fiscal stimulus, and we might not be getting it."
Bianco, Deutsche Bank's chief U.S. equity strategist, told CNBC's "Squawk Box" that while he is worried about the risk the upcoming election poses to the markets, he recommends some investments regardless of the outcome.
"This is what I'm advising investors to do: stick with what I think is the core attractive part of the market," Bianco said, noting that the health-care and technology sectors have reasonable valuations and steady sales and earnings growth, making them a safe bet, according to the strategist.
Mike Ryan, chief investment strategist at UBS Wealth Management Americas, said that even after the election, it's difficult to tell whether there will be any substantial changes made when the new administration takes office.
"We're still likely to see divided government, we're still likely to see division of power, and we're still likely to see only incremental change because we're not going to have a mandate no matter who wins," Ryan said Thursday on "Squawk Box."
"We're kind of towards the end of the rope in terms of monetary policy. The real issue now is are we going to get some fiscal stimulus, and is it going to be targeting the right spots, for example, like infrastructure?" Ryan added.
The strategists focused on the Federal Reserve's impending interest rate hike, which investors predict will be announced in December.
Bianco said the Fed's rationale in favor of a rate increase is wanting to raise the participation rate and increase inflation slightly. He forewarned, however, that after December, he believed the central bank wouldn't raise rates again until late 2017.
Ryan said the Fed is taking a "cautious, pragmatic and prudent approach to raising rates."
"The Fed is in the process of resetting towards rate normalization," the UBS strategist said. "It's a multiyear, multistep process, but they have to continue to follow through on it."
Ryan added that it would serve the Fed to keep international events in its peripheral vision.