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You Can Thank the Fed for the $1.5 Billion Powerball Jackpot
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wsj.comThe Federal Reserve is boosting the Powerball jackpot without even buying a ticket.
Since there was no winner in Wednesday night’s drawing, the Powerball prize rose to $1.5 billion, the third-largest lottery jackpot in U.S. history. It is a substantially bigger prize than a year ago, before the Fed began raising interest rates this year to tame inflation. That is because the advertised jackpot is the future value of the prize after being invested in government bonds over 30 years.
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