In an ongoing effort to tame inflation, Federal Reserve Chair Jerome Powell signaled that more interest rate hikes will be announced next year. This has financial markets again concerned about whether the Fed will be able to beat inflation without thrusting the economy into a recession. That is a big reason why the S&P 500 index nosedived 21% so far this year. 

What is an investor to do in such uncertain times? The answer is the same as it always has been, which is to buy quality dividend growth stocks.

Shares of medical device maker Medtronic (NYSE: MDT) are down 28% year to date. But with 45 straight years of payout boosts to its name, the stock could be a buy for dividend growth investors seeking a stock to anchor their portfolio.

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Source Fool.com