Joseph H. Davis, Ph.D., is a principal and Vanguard’s global 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 the firm’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 various 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.