My investment strategy will be to study the market and be a bit reluctant to venture into any investment that the returns will be negatively affected by the current market situation. If the Fed rate is hiked I presume that there will be an increase inflation which will positively increase investment earnings at a comparable pace . However high inflation can negatively impact nominal returns. 

The Fed rate hike will make it more expensive for  consumers and businesses to borrow money and this will results in the fall of demand of goods and services, making producers to reduce the prices of goods and services. This will make the market humming, not too hot, not too cold but just right.