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Meet Dominique Dwor-Frecaut

Dominique Dwor-Frecaut

Dominique Dwor-Frecaut is Chief US Economist at Macro Hive, specializing in US economics and monetary policy. She completed her Master’s and Ph.D. in Economics from the London School of Economics, and her first major position in finance was as an economist at the IMF. 

After that, Dominique continued to rack up experience, first as a-Singapore-based EM strategist, then  as Portfolio Strategist at Bridgewater Associates followed by a stint as Head of Research at a NYC-based startup macro hedge fund. 

Dominique’s expertise lies in macroeconomics and monetary policy, and she has a strong record of producing alpha-generating insights and successful calls in FX and rates. As someone who revels in ‘challenging the consensus,’ she is responsible for generating research that has practical implications for Macro Hive’s portfolio.

Before joining Macro Hive in November 2019, Dominique was a Senior Associate at the Federal Reserve Bank of New York and then a Senior Macro Strategist at a LA-based macro hedge fund.

Dominique’s expertise is regularly called upon by numerous financial organizations, including Bloomberg and Real Vision. 

Twitter: Dominique Dwor-Frecaut (@firstkicktires) / Twitter

LinkedIn: (1) Dominique Dwor-Frecaut | LinkedIn

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Recent Articles

Politics & Geopolitics | US

Senate Majority May Not Be Known Until December

Dominique Dwor-Frecaut

Summary A Democratic House takeover seems all but certain, while a Senate flip is likely, though with a narrow majority that would limit its policy impact. Prediction markets appear overly focused on presidential emergency powers while overlooking risks arising from close congressional races, particularly in the Senate. Even without election disputes, mail-ballot counting and runoffs […]

  1. The Productivity Boom Before AI

    Dominique Dwor-Frecaut

    Summary The US productivity boom began in 2022, before the AI investment surge, driven by capital deepening and faster TFP growth, potentially supported by post-pandemic labor reallocation and entrepreneurship. The current boom is weaker than the 1990s IT boom, especially with respect to wage growth that is lagging productivity. Sustaining the boom will require more […]

  2. AI Is Raising Relative Prices, Not Inflation

    Dominique Dwor-Frecaut

    Summary The Fed views AI primarily as a near-term positive demand shock, eventually offset by longer-term productivity gains. In my view, AI is raising some capital and energy prices, but there is little evidence of broader second-round inflation. The FOMC may be underestimating a more immediate disinflationary channel: AI-driven weakness in employment and wage growth. […]

  3. Will the Fed Start the Recession Clock?

    Dominique Dwor-Frecaut

    Summary Markets expect more tightening than the Fed, contributing to a substantial flattening of the yield curve. Historically, the yield curve has provided unusually strong recession signals, particularly 12–24 months ahead. The 2022–24 false positive shows the need for a reality check: permits, orders, and profits provide useful shorter-horizon signals. The Fed cannot escape implicit […]

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