What the Zero-Rate Era Left on Your Shelf

Published on November 3, 2026

I spent the majority of my time in the retail bond business during the zero-rate period. The problem during that time was fairly simple. A bond would yield about 1.5%, while a retiree would need about 5%. There had to be a solution, and Wall Street was quick to provide it.

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H10: Foreign Exchange Rates - H.10 Data Download Program

November 2, 2026
November 2, 2026 Foreign Exchange Rates data are now available in the Data Download Program (DDP). The data are available at: https://www.federalreserve.gov/datadownload/Choose.aspx?rel=H10

R&D: A Long-Term Investment

November 3, 2026
Innovation takes time—very often years—and can be expensive. For example, it wasn’t so long ago that Nvidia was considered to be just a gaming company. Today, it is one of the largest companies in the world with a dominant position in hardware and software tools powering the artificial intelligence (AI) revolution.