The Federal Reserve has announced a gradual reduction in its monthly bond-buying program, and what’s the plan? To reduce purchases by $15 billion a month, from the current level of $120 billion, to zero by next June. Investors should take note: The Fed’s tapering has begun! Steve Fobes on how the Fed has portrayed this so-called tapering and on what investors should watch for as disrupted supply chains and labor shortages linger into next year.

Steve Forbes shares his What’s Ahead Spotlights each Tuesday, Thursday and Friday.

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