The low-interest-rate environment is a favorable backdrop for developed markets to retire pandemic-related debt. Central banks, meanwhile, may soon provide guidance on how they’ll start unwinding assets.
Roger A. Aliaga-Díaz, Ph.D., is a principal and senior economist with the Investment Strategy Group at Vanguard. Mr. Aliaga-Díaz’s areas of expertise are monetary policy, international macroeconomics, and finance. He has published studies on investment and macroeconomic issues in peer-reviewed academic journals and has presented his research at various industry and academic conferences including the Board of Governors of the Federal Reserve System, the American Enterprise Institute for Public Policy Research, and the American Economic Association. Before joining Vanguard in 2007, Mr. Aliaga-Díaz was a visiting professor of macroeconomics at Drexel University’s LeBow College of Business. He earned a B.A. in economics from Universidad Nacional de Córdoba, Argentina, and a Ph.D. in economics from North Carolina State University.