The recent hot inflation report has added to worries that the Fed may have to keep rates higher for longer to quell inflationary pressures. Therefore, investors could safeguard their portfolios with stocks of financially resilient companies such as The Coca-Cola Company (KO), Bristol-Myers Squibb Company (BMY), and Sysco Corporation (SYY).
In the recent news, the Federal Reserve's closely-watched inflation gauge exhibited stronger-than-expected price increases last month, suggesting that the central bank may have to work more aggressively to slow the economy down. The Personal Consumption Expenditures (PCE) price index rose 0.6% in January and 5.4% from last year.
