Joe Davis: 'We Will See China-Like Growth for a Time in the United States'

<p>Our guest on the podcast today is Joe Davis, global chief economist at Vanguard. Joe also heads up Vanguard's Investment Strategy Group, a team that 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. He is also a member of the senior portfolio management team for Vanguard Fixed Income Group. He earned a doctorate in economics at Duke University.</p></p><p><p><strong>Background</strong></p></p><p><p><a href="https://www.linkedin.com/in/joseph-h-davis/">Bio</a></p></p><p><p><strong>Asset Bubbles</strong></p></p><p><p>“<a href="https://www.vanguard.nl/portal/site/institutional/nl/en/articles/research-and-commentary/vanguard-voices/bitcoin-digital-gold-or-fools-gold-eu">Bitcoin: Digital Gold or Fool’s Gold?</a>” by Joe Davis, vanguard.com, March 13, 2018. </p></p><p><p>“<a href="https://www.cnbc.com/video/2020/01/28/vanguards-joe-davis-on-the-state-of-the-markets-the-global-economy.html">Vanguard’s Joe Davis on the State of the Markets & the Global Economy</a>,” cnbc.com, Jan. 28, 2020.</p></p><p><p>“<a href="https://advisors.vanguard.com/insights/article/assetbubblesandwheretofindthem">Asset Bubbles and Where to Find Them</a>,” by Joe Davis, vanguard.com, March 8, 2021.</p></p><p><p>“<a href="https://www.morningstar.com/articles/1017342/value-vs-growth-widest-performance-gap-on-record">Value vs. Growth: Widest Performance Gap on Record</a>,” by Katherine Lynch, Morningstar.com, Jan. 11, 2021.</p></p><p><p><strong>The Pandemic and the Economy</strong></p></p><p><p>“<a href="https://pressroom.vanguard.com/nonindexed/Vanguard-economic-and-market-outlook-report-2021-120920.pdf">Vanguard Economic and Market Outlook for 2021: Approaching the Dawn</a>,” Vanguard Investment Strategy Group, vanguard.com, December 2020.</p></p><p><p>“<a href="https://advisors.vanguard.com/insights/article/vanguardeconomistsdiscusstheirglobaloutlook">Vanguard Economists Discuss Their Global Out