Salim Ramji

Keep costs low, stay diversified, and invest for the long term.

And so I think this is another innovation in being able to help with that.

And we're supporting that in any way that we can, but I think that the underlying ethos is a very positive one.

Well, you know, international is, in the scheme of it, a relatively small part of Vanguard, but it's an incredibly fast-growing part.

And we're principally based in markets like the U.K., like Canada, like Australia.

And what we found there is that most investors just find investing too complicated.

They find it too costly.

And there aren't kind of platforms like there are here in the United States to enable them to access it.

So in many cases, what we're helping investors in those markets do is be able to move from being savers, often in bank deposits, to be able to be investors for the first time.

And that mantra of keeping costs low, of keeping it simple, and of making it easy for people to access seems like it's working.

And there's a growing population in many of those markets of fee-based advisors, independent fee-based advisors, where Vanguard investors are doing quite well in terms of teaming up with them to be able to help them build kind of even better, even more diversified long-term portfolios.

Yeah, look, I think the most important thing is the Fed continues to stay focused on its dual mission.

I know Kevin.

I think he's a great choice.

But the broader piece is really about making sure kind of the Federal Reserve has done what it's done, I think, so effectively for generations of people.

So I think that's going to continue.

And I think it's going to serve investors well for the long term.