Market conditions fluctuated greatly after the Federal Reserve announced its plan to raise interest rates by the largest margin since 2000. On the one hand, investors are worried that interest rate hikes will not be able to calm rising inflation; on the other hand, concerns about whether the economy can achieve a “soft landing” are gradually spreading.

Expectations of stagflation are heating up again, and major Wall Street banks have also proposed coping strategies. Among them, highly defensive utilities and high-dividend stocks received the most popularity.