As Vanguard's Global Chief Economist and Global Head of the Investment Strategy Group, Joe manages more than 60 global research and client-facing team which develops multi-asset-class allocation strategies and conducts research on the capital markets, the global economy, portfolio construction, and related investment topics.
The one silver lining in all this is that you have parts of the financial markets, in particular the bond market, increasingly pricing in this reality of higher interest rates not only for this year but for the years to come, which should be a ballast for fixed income portfolios and, with that, broadly diversified global portfolios.
Joe Davis, Vanguard global chief economist, discusses sticky inflation, central banks’ reply, and a silver lining.