Emile Gagna
About

Emile Gagna

Deputy Head of Economic Research

Emile Gagna is Deputy Head of Economic Research at Candriam, where he has been an economist since 2004. He is also an instructor at the University of Paris Dauphine. 

He has co-authored several books with Candriam economists Anton Brender and Florence Pisani, including The Macroeconomics of Debt: Europe’s Blind Spot (2021), Money, Finance and the Real Economy (2015), and The Sovereign Debt Crisis: Placing a Curb On Growth (2012).  

Emile Gagna graduated from ENSAE with a Master’s in Economics and Finance, and also holds a master’s degree in Applied Mathematics and Social Science from the University of Paris Dauphine. 

Discover the latest articles by Emile Gagna

US elections, Asset Allocation, Macro, Florence Pisani, Emile Gagna

Trump’s Economic Policy

The election of Donald Trump, coupled with the Republican Party's control of both houses of Congress, has resulted in a new political landscape in the United States. What key decisions must the new administration make? What impact will these decisions have on the macroeconomic environment, financial markets and investors?
Sylvain De Bus, Emile Gagna, Outlook 2025

Trump 2.0: Towards Lasting Divergence Between the United States and the Eurozone?

As disinflation gains momentum and the Federal Reserve (Fed) begins to ease monetary policy, the election of Donald Trump risks altering the trajectory of the US economy. While uncertainties remain about the policies he will ultimately implement -- and their timing -- the general direction of his proposals seems clear: They are likely to widen the interest rate spread between the US and Europe and strengthen the dollar.
Florence Pisani, Emile Gagna, Outlook

Central banks remain cautious

At the start of summer 2024, growth continues, but its pace remains uneven across countries and regions. China is still facing deflationary pressures, the eurozone is making slow progress, while growth in the United States, still close to 2% , seems to be slowing a little. Wherever inflationary pressures have been felt, they have continued to abate over the months, paving the way for a cautious easing of monetary policy.
Asset Allocation, Macro, Equities, Fixed Income, Nicolas Forest, Nadège Dufossé, Emile Gagna

Update on Middle East Tensions

On April 13, Iran decided to strike Israel with 300 drones and missiles following an attack on its diplomatic compound in Syria. Regional escalation and oil price are at risk. This tail risk cannot be ignored. We are closely monitoring the unfolding situation.
Emile Gagna, Macro, Inflation

Powell’s last mile of a long journey

After peaking in the summer of 2022, inflation in the United States has fallen back sharply. Despite the fact that disinflation is now well underway, previous episodes in our series have highlighted the fact that the US economy has not yet returned to the softness of 2 % inflation...
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