The Invesco S&P 500 Equal Weight ETF (RSP), which follows the S&P 500 Equal Weight Index (EWI), rose 0.9% on Wednesday, testing its short-term support at the 50-day simple moving average. U.S. markets and stock exchange traded funds jumped toward the end of Wednesday after the Federal Reserve stated that it will begin easing back from pandemic accommodative measures in response to rising inflationary pressures. While the accommodative measures have helped U.S. markets swiftly rebound from the coronavirus pandemic selloff, the rising consumer prices have intensified calls for the Fed to curb inflationary pressures.