Markets & Economy


Joe Davis on the Fed announcement

June 25, 2013

Vanguard's chief economist weighs in on Federal Reserve policy

The markets have been waiting for the Federal Reserve to taper its bond-buying program, and even the hint of such a move by Fed chairman Ben Bernanke sent shocks through stocks. Vanguard chief economist Joe Davis explains why the Fed's action may reflect good news for the economy despite the turmoil in the financial markets.

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