We sat down with economists in Vanguard’s Financial commitment Technique Group to just take stock of how the pandemic has reshaped their outlook for the economic system and the place they see markets going from here.
The title of Vanguard’s outlook for 2020 was “The New Age of Uncertainty.” It would seem virtually prophetic in retrospect.
Joe Davis, Vanguard worldwide chief economist: It is true that we were being anticipating heightened uncertainty this year owing to issues about worldwide advancement, unpredictable policymaking, trade tensions, and Brexit negotiations. But we could not have foreseen a viral pandemic that would be so devastating in terms of human price, curtailed financial exercise, and disrupted financial markets. It is really an unprecedented celebration that defies traditional labels.
We’ve been broadly supportive of the terribly fast and strong monetary and fiscal responses from governments throughout the world to blunt the destruction. A lot of