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Why stocks rallied on the Fed, even with the more aggressive interest rate outlook

Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a live-streamed news conference following a Federal Open Market Committee (FOMC) meeting in New York, on Wednesday, Dec. 15, 2021.
Michael Nagle | Bloomberg | Getty Images

The Federal Reserve managed a dramatic switch in its policy outlook from ultra-easy to tightening without triggering a market tantrum - so far.

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