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.
Ahead of next week’s Federal Reserve policymakers meeting, Vanguard Global Chief Economist Joe Davis evaluates the transition to Phase Two policy normalization and its potential impact on markets.
Joe Davis, Vanguard’s global chief economist, outlines possible policy changes from the Federal Reserve and Capitol Hill. He suggests that investors keep their focus on the long term, rather than trying to respond to an ever-changing policy environment.
Vanguard Global Chief Economist Joe Davis discusses signs of a possible Fed interest-rate hike but cautions investors to consider possible long-term market and economic implications.
Vanguard Global Chief Economist Joe Davis looks to the Fed’s December 2016 meeting and says while news on interest rates will likely grab the headlines, it’s important to also focus on the long-term implications on the markets and the economy.
Faced with alarming headlines, we must maintain reasonable expectations and remain focused on our clients’ goals. Consider three episodes from the first half of 2016.
Monetary policy is reaching its limits, but global growth remains frustratingly fragile. Our chief economist says the best path forward differs by region.