About the U.S. Money Reserve Team

It has been 10 years since the employees of Lehman Brothers stepped out onto Sixth Avenue carrying cardboard boxes and became the enduring symbol of America’s largest bankruptcy. What followed, as they say, is history. Markets collapsed, trillions in wealth evaporated, and big, splashy investment firms fell like dominoes. A decade later, former British Prime…

“There was the greatest bubble I’ve ever seen in my life.... The entire American public eventually was caught up in a belief that housing prices could not fall dramatically.”  Warren Buffett, testifying before the Financial Crisis Inquiry Commission, 2010 Ten years ago, we were deep in the weeds of the Great Recession when American homeowners saw…

According to the Baker Library Historical Collection at Harvard Business School, the three Lehman brothers, Henry, Emanuel, and Mayer, emigrated from Germany in the 1840s and opened up a dry goods store in Montgomery, Alabama. During this time, cotton was a vital and high valuation crop and the brothers quickly began accepting raw cotton in…

Every year in July, the festival of San Fermín is held in Pamplona, Spain. San Fermin is the co-patron saint of Navarre who was martyred at the age of 31 and apparently dragged through the streets by a bull. Despite the fact that it was likely Saint Saturninus who actually met his fate in this…

It’s somewhat fitting that the future of global monetary policy and the path of U.S. interest rates will be discussed in a place renowned for the Million Dollar Cowboy Bar complete with saddle stools, Wyoming Whiskey, and thousands of Morgan Silver Dollars embedded into the bar top. The Jackson Hole Economic Symposium is a yearly…

The only certain things in life are death, taxes, and, one could argue, another financial downturn. Recessions are inevitable. Some economists believe they’re a natural outgrowth of business cycles. Others maintain that booms and busts reflect the inherent cadence of capitalism and a market economy. Still others assert that downturns represent an outgrowth of excess…

What if I told you that Goldilocks was not a fair-haired child but rather a horrid old woman apparently up to no good? What if I told you that the three bears were not as high-minded as they’re often portrayed but rather wild, ravenous, and a bit vindictive? In the Goldilocks tale first published by…

Get ready for the toxic TV commercials, mounds of election mail, and—depending on where you live—door-to-door vote trolling. The midterm elections are now mere months away, and while there’s a lot on the line for both political parties, there is even more at stake for U.S. consumers, particularly those watching their nest eggs. The midterm…

“Global financial market conditions remain very favorable, characterized by unusually low risk premiums and volatility. Global short-term interest rates have continued to rise, led by the United States. With tightening cycles in the Euro…

When we think about the current stock market, here is the tale of the tape. The Dow has hit some 74 record highs since the 2016 presidential election. Its highest close to date was 23,557.23—hit just a week ago.

DATELINE: March 23, 2013. The New York Times headline blared: “Cyprus Makes Plan to Seize Portion of High-Level Deposits.” The story details how the island nation devised a raid on civilian checking and savings accounts in an attempt to avoid a national banking collapse.

Each year we watch various heads of state assemble for a power yearbook photo at prominent locations like Washington, London, Toronto, Seoul, Cannes, Brisbane, Hangzhou and Hamburg. There are global round tables, strategic side meetings and broad announcements of international cooperation. The G20 (Group of 20)...