Joe Davis, Ph.D.

Chief Economist

Mr. Davis is a principal and Vanguard's chief economist. He is also 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.

Mr. Davis is chief economist and head of Vanguard Investment Strategy Group. His team conducts research on portfolio construction and helps oversee the firm's asset allocation strategies.

RECENT ARTICLES

Vanguard global outlook for 2021

November 20, 2020

While the global economy continues to recover, our baseline forecast for 2021 assumes that a vaccine should ultimately emerge to gradually allow an easing of restrictions and a lessening of consumers' economic hesitancy. But the recovery's path is likely to prove uneven.

Vanguard 2020 outlook: The new age of uncertainty

November 18, 2019

Vanguard economists see growth and inflation as subdued in the year ahead, and asset returns in the next decade as modest at best.

Here today, gone tomorrow: The impact of economic surprises on asset returns

November 09, 2018

Do economic surprises influence asset returns? A new Vanguard research paper looks at the effects of these surprises and the implications for portfolio strategy.

RECENT ARTICLES

Vanguard global outlook for 2021

November 20, 2020

While the global economy continues to recover, our baseline forecast for 2021 assumes that a vaccine should ultimately emerge to gradually allow an easing of restrictions and a lessening of consumers' economic hesitancy. But the recovery's path is likely to prove uneven.

Vanguard 2020 outlook: The new age of uncertainty

November 18, 2019

Vanguard economists see growth and inflation as subdued in the year ahead, and asset returns in the next decade as modest at best.

Here today, gone tomorrow: The impact of economic surprises on asset returns

November 09, 2018

Do economic surprises influence asset returns? A new Vanguard research paper looks at the effects of these surprises and the implications for portfolio strategy.

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