While we're still not out of the woods with inflation or the Federal Reserve's historic rate-rising campaign, investors looking for passive income could load up quality dividend-paying stocks Cisco Systems, Inc. (CSCO) and Valero Energy Corporation (VLO) to help offset the adverse effects of the ongoing market turmoil.
Although the consumer inflation rate has fallen steadily from a June peak of 9.1%, the Fed has indicated to continue raising interest rates in small increments over the coming months to reach a terminal rate above 5% as the Personal Consumption Expenditure (PCE) index remains far from the Fed’s 2% goal.
