As investors digest the Federal Reserve's latest economic projections, one market strategist is playing defense with a certain group of stocks.
U.S. stocks fell last week after the central bank raised its inflation projections and forecast sooner-than-expected rate hikes. But the market rebounded sharply Monday.
BTIG's chief equity and derivatives strategist Julian Emanuel predicts continued volatility in the market, particularly leading up to the next Fed meeting in late July.
"We tend to be a little bit more cautious. We think the value theme continues to work long term, but what we really like now is what we call 'defensive value,'" Emanuel said Tuesday on "CNBC's Worldwide Exchange."
