Why Tesla Stock Hit the Accelerator Today

Why Tesla Stock Hit the Accelerator Today

Tesla's (NASDAQ: TSLA) stock was rising this afternoon after Federal Reserve Chairman Jerome Powell said that smaller interest rate hikes will begin in December. The electric vehicle stock was up by 5.3% as of 3:34 p.m. EST. Speaking at the Brookings Institution today, Powell said that the Federal Reserve will likely begin smaller increases to the federal funds rate at its December meeting.