Fast money starts right now.

Life in the Nasac market site overlooking New York City's Times Square.

I'm Melissa Lear.

Traders on the desk are Pete Nigeri and Tim Seymour, Steve Grasso, and Guyadami.

Tonight on Fast, everything is awesome.

At least according to the Federal Reserve, Jerome Powell

sparking an epic rally on Wall Street

after pacifying the concerns of investors,

the Dow's surging 600 points, the S&P 500 jumping 2%, the Nasak up a whopping 3%.

And top strategist Jonathan Golub, who was at the Fed event earlier today,

will tell us why he thinks this market is going higher but there is one big catch she will

explain first let's send it over to chief economic correspondent Steve Leeson for more

on Howell's message to the market Steve how, did Powell give in?

You know, some people are characterizing it that way.

I'd say he kind of redirected from a legal standpoint perhaps, but what he did for sure was

ignite a powerful market rally saying the Fed is not on a

pre-set course market wanted to hear that and that the Fed is quote just below the range of

neutral estimates. the economy that is neither speeding up nor slowing down growth.

Let's unpack that a little bit.

Enoch E. Jefferson of Pantheon says,

quote, it's not as dovish as markets think.

So the top of the target range is only one hike away from the bottom end of the range,

...