Last week the Federal Reserve hiked its benchmark interest rate by 0.75%. With inflation exploding higher, the Fed has, since February, pushed the rate from effectively zero percent to a current target of 2.25% to 2.50%.
You may have heard or read that these higher rates are a stiff headwind for tech company growth and profits. However, other industries will benefit from higher interest rates.
One CEO’s comments in particular, from a second-quarter earnings report, highlight where we need to look for stocks that benefit from higher interest rates…
This post originally appeared at Investors Alley.