The Fed raised interest rates by 50 bps yesterday, thereby taking the benchmark interest rate to the highest level in 15 years. However…
it represented a slowdown from the four consecutive 75-bps hikes earlier.
Fed Chair Jerome Powell said, “Inflation data received so far for October and November show a welcome reduction in the monthly pace of price increases.”
Moreover, Megan Greene, chief economist at Kroll Global, believes that “peak inflation is probably behind us.” Also, CNBC’s Jim Cramer believes the economy is stabilizing and might avoid a recession.
Nonetheless, the market is expected to remain uncertain as the central bank intends to keep raising rates through 2023. Therefore, holding on to quality stocks Pfizer Inc. (PFE) and Lockheed Martin Corporation (LMT) could be wise. These stocks are rated A (Strong Buy) in our POWR Ratings system.
Pfizer Inc. (PFE)
PFE discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas.
On December 14, 2022, PFE and China Meheco Group Co Ltd. (China Meheco) signed an agreement under which…
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