Yesterday, following their scheduled two-day meeting, the Fed did exactly what everyone had forecast they would do, and raised interest rates by a quarter of a point. It should probably have been a big non-event given that the bond market had, the day before, priced in a 98-99% chance of that being the outcome. If anything, with Fed Chair Jay Powell talking tough about how we still had a long way to go to tame inflation and saying there was little to no chance of cutting rates any time this year, you might have thought it would produce a mildly negative response. But this is how the E-Mini S&P 500 futures contract (E/S) reacted:
Original article: https://www.nasdaq.com/articles/the-stock-market-jumped-after-a-rate-hike-what-this-should-tell-investors
