If we had told you 25 years ago--when you were earning 8.5% on a 30 year U.S. Treasury bond—that you would be earning 2.5% today on that same bond, you would have labeled the thought sheer madness. Yet, that is today’s reality. This week we review why low interest rates may be with us for
We begin on this eve of July 4—when we celebrate “Life, Liberty, and the pursuit of Happiness”—with an article on money and happiness. Then, we present two articles—one relating to the Federal Reserve’s plans to withdraw stimulus and another about the rate of economic growth.