I Think the Fed Demonstrated the Required Courage

7/27/22 CNBC reported the Fed raised the benchmark interest rate .75%.  This is a huge increase intended to squash inflation.  The stock market responded very favorably.   My portfolio grew 3%.

Schwab's analysis of market reaction indicated that the Fed chair's remarks implied that they will watch the data and not automatically keep raising rates.   

This is what I would expect from adults.  Step lightly on the brake and watch the reaction.  By some accounts, the Crash was a result of the Fed finally realizing that they had spent most of the 1920s inflating the money supply to ease Bank of England debts to the U.S. for World War I, and when they realized it, they stomped on the brakes full force at 140 mph.