Source: PROGRESSIVE FARMER, 5/6/22

Speaking after the Federal Reserve Board's half-point interest rate rise on May 4, Fed Chairman Jerome Powell set the stage for further half-point increases but said Fed officials weren't seriously considering three-quarter point hikes. Was that good news? The stock market thought so. The Dow surged 932.27 points, its best day since 2020. Investors had priced in a 95% likelihood of a three-quarter percentage rise.

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