As the Mega Millions jackpot tops $1.1 billion amid a trend of giant prizes, gamblers can thank the Federal Reserve for indirectly impacting the purse
hiking rates, the 30-year Treasury bond sat at 3.66% on Monday, up markedly from 2.09% a year ago. So gamblers can tip their hats to the Feds for the extra sweetening of the pot in recent jumbo jackpots.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference after a Federal Open Market Committee meeting on Dec. 14, 2022 in Washington, D.C. However, before any winners start drafting a thank-you letter to Fed chair Jerome Powell for the boost, know that economic policy is not seen as a significant driver. Danielle Frizzi-Babb of the Ohio Lottery says interest rates play a minor role in determining the size of the prize.The current Mega Millions sequence began in October and actually benefited from a record-setting Powerball jackpot in the fall, the lottery official explained.
Play stubs are displayed at the lottery counter at Broad Street Liquors, Tuesday, Jan. 3, 2023, in Timonium, Maryland. An estimated $1.1 billion Mega Millions jackpot set for Tuesday night will give lottery players a chance to start the new year withThere is also a heightened consumer interest in playing the lottery during the holidays, which also drove up the current prize.
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