The demographic changes occurring in the United States will not have a negative impact on future stock returns. The clearest path to financial success is still an investment strategy focused on discipline, diversification, and patience.
Vanguard Chief Economist Joe Davis sees a decent probability that Bitcoin’s price goes to zero.
Vanguard Chief Economist Joe Davis says automation will actually result in more and better jobs for humans.
The global economy is at or near full employment, yet a decade after the onset of the Global Financial Crisis, central banks still struggle to achieve their 2% inflation targets despite years of extraordinary stimulus. Joe Davis examines the growing deflationary effects of Moore’s Law and explains why technology is an important—and often overlooked—factor in explaining why inflation has tended to fall short of expected targets.