#PowellRemarks On Wednesday the practical effect came during the news conference, which started at about 2:30 p.m. U.S. Eastern Time. Until then, the Standard & Poor's 500 Index was largely range-bound after Tuesday's loss.

Then the index surged to 5,675, up 1.1% on the day and 154 points higher than the close on March 13.

Here are eight takeaways from what Powell said and how markets moved as they did.