Why is the Powerball prize at a record? Thank Jerome Powell

One of the reasons for the record $1.6 billion jackpot for the Powerball drawing Saturday night is something you wouldn’t expect — the recent run of steep interest rate hikes from the Federal Reserve.

​One of the reasons for the record $1.6 billion jackpot for the Powerball drawing Saturday night is something you wouldn’t expect — the recent run of steep interest rate hikes from the Federal Reserve.