Oil prices may be down somewhat from their recent highs, but the world is still in the grip of high inflation, and the Federal Reserve has committed to getting that in check. To do so, the central bank is hiking interest rates, which is putting the brakes on economic growth. But if the Fed can't fight inflation and also stick a soft landing for the economy, it's quite possible the U.S. will see a reprise of the dreaded stagflation of the 1970s. 

Hardly seems the time to be investing in industrial stocks, right? Yet when times get tough, you want to make sure your portfolio is chock-full of quality companies, and many industrial stocks could do well even in a soft economy. 

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Source Fool.com