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The Dow rallies to its best day since 2020 after the Fed rules out larger rate hikes

A trader working on the floor of the New York Stock Exchange (NYSE) in New York City on May 2. Stocks surged on Wednesday after the Fed

Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.

(Image credit: Spencer Platt/Getty Images)

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