This growth scare will pass – but it might make the Fed stay its hand

As the world continues to grapple with Covid-19, markets are starting to worry that "normal" might not return as soon as everyone hoped. John Stepek looks at what that might mean for you.

Jerome Powell
Markets are worried that the Fed could start reining in the money printing
(Image credit: © Al Drago/Bloomberg via Getty Images)

Markets are having a bit of a growth scare.

On the one hand, the Delta variant of Covid-19 is proving difficult to throw off.

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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.