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Market Update – May 2, 2022
May 2, 2022
Summary
The Fed flexes it inflation-fighting muscles. Not only did the FOMC raise rates 50 bps, but in June they’ll start selling down the nearly $9 trillion in bonds on its balance sheet. Today’s news sparked a powerful rally in stocks, pushing the Dow up over 900 points. Yet another reminder why it’s critically important for investors to remain fully invested and well-diversified through good markets and bad.
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