Helicopter money is coming very soon – but what form will it take?

We’re heading for a”new normal”, says John Stepek – fiscal stimulus, and lots of it. Here’s what that really means.

The US has reduced its interest rate to near zero © Getty

I’m writing this commuting in on a half-empty train to London. I don’t know what the weather’s like where you are, but it’s a beautiful day in Kent. A proper sunny spring morning. This is my equivalent of giving you a bit of soothing background music before we dive into the unadulterated pandemonium that is the markets today, and probably for the rest of the week.

Deep breaths. We all ready? Let’s start with what the Federal Reserve just did...

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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.