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Federal Reserve Watch: Change Is Coming, But In What Direction

Dec. 03, 2021 12:59 PM ET3 Comments
John M. Mason profile picture
John M. Mason


  • Fed Chairman Jerome Powell is now saying that tapering may need to be accelerated and Treasury Secretary Yellen is now saying that the Fed needs to move forward on tapering.
  • But, other than vague utterances, Mr. Powell seems to be reluctant to define any policy direction that he might be held accountable for in the future.
  • Financial markets are signaling that the Fed will raise short-term rates in the near future but will be faced with slower economic growth further out due to the coronavirus.
  • Yes, there is a lot of uncertainty around, but Mr. Powell has got to step up and provide markets and businesses with some insight into what he is thinking about doing going forward.

The US Federal Reserve building in Washington DC

uschools/E+ via Getty Images

Up until just recently, Jerome Powell, Fed Chair, has been adamant about the future of inflation in the United States.

The rise in the U.S. rate of inflation was just temporary or transitory. After a few months, inflation

This article was written by

John M. Mason profile picture
John M. Mason writes on current monetary and financial events. He is the founder and CEO of New Finance, LLC. Dr. Mason has been President and CEO of two publicly traded financial institutions and the executive vice president and CFO of a third. He has also served as a special assistant to the secretary of the Department of Housing and Urban Development in Washington, D. C. and as a senior economist within the Federal Reserve System. He formerly was on the faculty of the Finance Department, Wharton School, the University of Pennsylvania and was a professor at Penn State University and taught in both the Management Division and the Engineering Division. Dr. Mason has served on the boards of venture capital funds and other private equity funds. He has worked with young entrepreneurs, especially within the urban environment, starting or running companies primarily connected with Information Technology.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (3)

terryongarland profile picture
We can criticize Powell all we want, but this crisis unfolding was easy to see coming a long time ago Anyone with some context of history, of markets ..and human nature knows that no one wants a good party to end ..of course crying the sky is going fall is almost always wrong..yet here we are. One could rationalize things will work out, and they may, but there may be hell to pay also. History of the world.
John, why do you refuse to tell SA readers that the Fed and Treasury are 'dance partners'?

Why do you refuse to tell SA readers ALL Central Banks share the same 'dance floor'?

SA: maybe using metaphor is lame... but useful to get past lame 'conspiracy theorists'.

Every honest banker is attempting to 'ride out this COVID19 pandemic'. Every business leader is taking notes... about what is working versus not so much.

I am encouraged by daily news cycles. Maybe, in the background, I consider THOSE BANKERS might be afraid now. Maybe, in the future, I might consider how situations would change / revert.
Thank you Mr.Mason for your opinion and this article.
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