One of the hottest topics on investors' minds in the past couple years has been inflation. Rising prices across the economy, which came to the forefront about two years ago in a surprising fashion, have hurt consumers in a wide range of shopping categories.

But besides the real-world impact, inflation has prompted the Federal Reserve to aggressively hike interest rates since March of last year to pressure demand and get stubbornly high prices under control. In fact, the central bank has never increased rates at a faster clip than it did in 2022. To be fair, inflation has cooled in recent months.

From an investment perspective, it's a good idea to think about ways to shape our portfolio strategies around what will happen with interest rates. After all, we can't control interest rates. However, we do have full control over what we can do to prepare for their unpredictability.

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Source Fool.com