Joe Davis on the markets and the economy

Vanguard Chief Global Economist Joe Davis shares his thoughts on the recent market volatility and what impact it will have on the Federal Reserve's decision to raise short-term interest rates. All investing is subject to risk, including the possible loss of money you invest. Past performance is no guarantee of future returns. Be aware that fluctuations in the financial markets and other factors may cause declines in the value of your account. There is no guarantee that any particular asset allocation or mix of fund will meet your investment objectives or provide you with a given level of income. Diversification does not ensure a profit or protect again a loss. Investments in securities issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Stocks of companies based in emerging markets are subject to national and regional political and economic risks and to the risk of currency fluctuations. These risks are especially high in emerging markets. This video is for educational purposes only. We recommend that you consult a tax or financial advisor about your individual situation. © 2015. The Vanguard Group, Inc. All rights reserved.