The Federal Reserve announced its third consecutive interest rate hike of 75 basis points yesterday. With the Fed officials voting unanimously to lift the benchmark federal-funds rate to a range between 3% and 3.25%, the central bank seems intent on fulfilling its mandate of maintaining low and stable prices while being prepared to risk a possible recession.
Since a soft landing for the economy increasingly seems like an improbable scenario, the market may not return to stability anytime soon. Amid this backdrop, the best stocks to buy may be those that have survived previous market routs and emerged as winners.
