AXA Group Chief Economist
- Gilles Moëc is AXA Group Chief Economist since 2019.
- Previously, he has been Chief European Economist at Bank of America Merrill Lynch since 2014.
- In 2006, Gilles was appointed Senior European Economist at Bank of America then became, in 2009, Chief European economist of Deutsche Bank.
- Between 1994 and 2006, he held several positions in the French civil service, at the national statistical institute (INSEE) and at the central bank notably as head of the International Economics Division of Banque de France.
- Gilles Moëc graduated from Institut d’Etudes Politiques de Paris in 1991.
Message in a bottleneck?
The disappointing US labor market data last week are read in the wider context of supply-side bottlenecks, which could fuel the debate on tapering.
The Atlantic gap widened
While the US GDP is less than 1% below its pre-pandemic level, the Euro area fell back in recession.
We think there is a case for a higher level of the natural interest rate post-pandemic in the US.