QE3 launches at last – here’s what it means for your money

Federal Reserve chief Ben Bernanke has announced more money printing for the US economy - and this time it's unlimited. John Stepek explains how this affects you, and how you can profit.

I have to admit, I wasn't convinced that the Federal Reserve would do more quantitative easing last night.

I couldn't quite see how it was justified. The stock market's at a four-year high. The US economy is weak, but deflation isn't an obvious problem. And the election is only months away.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.