The Fed Is Still Raising Rates: 2 Top Growth Stocks You Want to Own Now
There are a lot of mysteries in the stock market right now, but one thing is clear: The Federal Reserve is intent on raising interest rates and keeping them elevated until inflation approaches its long-term target of 2%, well below its current level above 6%.
In its December forecast, the central bank said it expected the benchmark federal funds rate to finish 2023 between 5% and 5.25%, 50 basis points higher than it is currently. The recent hotter-than-expected personal consumption expenditures report and a strong January retail sales report make it more likely that the Fed will hike interest rates by another 25 basis points at its meeting on March 22.
Growth stocks have been hit hard by aggressive rate hikes as higher interest rates make long-dated earnings worth less, but not every high-growth stock is in the line of fire. Some actually benefit from rising interest rates. Here are two that look especially promising in today's high-interest rate environment.
Source Fool.com
