Shares of Nike (NYSE: NKE) also did well today, gaining nearly 3%. Federal Reserve Chairman Jerome Powell in testimony to Congress this week acknowledged that it will not be easy for the Fed to engineer a soft landing as it continues to raise interest rates in order to tame some of the highest inflation seen in four decades. Healthcare and pharmaceutical companies can perform well in inflationary environments because their products and work are always needed and they are able to raise drug prices to adjust for inflation.