Jerome Powell, chairman of the U.S. Federal Reserve, pauses during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Wednesday, May 4, 2022.
Al Drago | Bloomberg | Getty Images
Stocks snapped a multi-week losing streak Friday, with all three major averages closing higher. The rally was buoyed by the release of FOMC May minutes on Wednesday, which some interpreted as the Fed's willingness to pause interest-rate hikes once the neutral rate is achieved. While time will tell and the Fed remains data dependent, the outlook for future rate increases did pull back slightly following the release.