Fed will need to reassure the market it’s not thinking about dialing back its support


Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, December 1, 2020.

Susan Walsh | Pool | Reuters

Federal Reserve Chairman Jerome Powell has a few nerves to quell among market participants wondering when the central bank will start tapping the brakes on all the help it’s been providing.

The big buzzword surrounding the Fed now is “tapering.” It’s a reference to pulling back on the monthly bond purchases that have helped keep the financial system flush with cash and have encouraged investors to continue to take on risk despite stock market valuations that are their highest…


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