Joseph Davis

Joseph H. Davis, Ph.D., is a principal and Vanguard's chief economist. He also is global head of Vanguard Investment Strategy Group, whose investment research and client-facing team conducts research on portfolio construction, develops the firm's economic and market outlook, and helps oversee Vanguard's asset allocation strategies for both institutional and individual investors. In addition, Mr. Davis is a member of the senior portfolio management team for Vanguard Fixed Income Group. Mr. Davis frequently presents at investment forums and has published studies on a variety of macroeconomic and investment topics in leading academic journals. Mr. Davis earned a Ph.D. in economics at Duke University.

Recent posts

A formidable adversary in the fight for 2% inflation: Moore’s Law

Categories: Market & economic

The global economy is at or near full employment, yet a decade after the onset of the Global Financial Crisis, central banks still struggle to achieve their 2% inflation targets despite years of extraordinary stimulus. Joe Davis examines the growing deflationary effects of Moore’s Law and explains why technology is an important—and often overlooked—factor in explaining why inflation has tended to fall short of expected targets.

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