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The 'Old' New Fed, An Accelerated Taper And A Heavily Mutated COVID-19 Variant

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  • On Nov. 22, U.S. President Joe Biden nominated Jerome Powell to serve another four-year term as Fed chair.
  • Of more consequence for markets was the guidance from Powell that the Fed might accelerate the tapering of its asset purchases at the December meeting.
  • Above all else, we believe that omicron is one of those risk factors that makes it prudent for clients to stick to their long-term strategic plans.

President Biden Announces His Nominees For Federal Reserve Chair And Vice Chair

Alex Wong/Getty Images News

Well, that was an unusually busy Thanksgiving break. In this article, we catch you up on major developments - from Jerome Powell’s renomination as chair of the Federal Reserve Board, to the risks of an accelerated taper and the omicron COVID-19

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Russell Investments is a leading global investment solutions firm with $326.9 billion in assets under management (as of 3/31/2021) and $2.8 trillion in assets under advisement (as of 12/31/2020) for clients in 32 countries, The firm provides a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 85-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve people’s financial security. Headquartered in Seattle, Washington, Russell Investments has offices in 19 cities around the world, including in New York, London, Tokyo, and Shanghai.  Russell Investments’ ownership is composed of a majority stake held by funds managed by TA Associates with minority stakes held by funds managed by Reverence Capital Partners, Russell Investments' management and Hamilton Lane Incorporated.Frank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.

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