The Fed's fight against inflation won't trigger a recession but it likely means 'breaking the back' on economic growth, Morgan Stanley's Mike Wilson says

• Economic growth will slow as the Fed fights inflation, Morgan Stanley's Mike Wilson said Tuesday. 
• "That doesn't mean recession, it just means growth expectations are going to come down," Wilson said.
• The strategist also said that long-term bonds are an attractive investment in the current landscape. 

As the Fed gears up for a cycle of interest rate hikes in an effort to curb inflation, economic growth will likely take a hit, according to Mike Wilson, chief US equity strategist at Morgan Stanley. 

"Our view is that we think growth is going to disappoint," Wilson said in a Tuesday interview with Bloomberg. 

The Fed will have to maneuver to tame inflation while avoiding bringing a recession down on the US economy. While Wilson said he sees economic growth potentially buckling under higher interest rates, he isn't anticipating a recession.  

"This chair is going to go the distance, meaning they're going to fight inflation, and that's going to require probably breaking the back on growth," Wilson said.

The strategist also noted that long-dated bonds offer a safety net for equity portfolios. Now, 20-year or 30-year bonds look "relatively attractive," Wilson said. As the economy slows, stocks typically sell off and investors look to safer, more gradual investments like bonds. 

"If they get eight [rate] hikes done and back-end rates move out that means they were successful in engineering the soft landing," Wilson said. "I don't think it's going to be that smooth. That doesn't mean recession, it just means that growth expectations are going to come down."