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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

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 […]

  1. Could The Midterms Turn Out Dollar Positive?

    Dominique Dwor-Frecaut

    Summary The administration’s dollar policy seeks to reconcile a strong dollar with a manufacturing renaissance. Dollar and balance of payments trends seem to signal some erosion in foreign confidence in dollar assets. The election results could support the dollar primarily through reduced policy uncertainty: stronger congressional constraints on executive discretion could reduce the risk premium […]

  2. FOMC Review – Change of Call – Two 2026 Hikes, but No Tightening Cycle

    Dominique Dwor-Frecaut

    Summary The Fed hiked in line with market expectations. The dot plot signaled mid-cycle recalibration, rather than the start of a tightening cycle, with the median dot showing two 2026 hikes, a hold in 2027, and gradual cuts thereafter. Warsh focused on slow disinflation and upside inflation risks, suggesting further tightening if disinflation does not […]

  3. FOMC Preview – Change Of Call – One 2026 Hike – Longer Normalization

    Dominique Dwor-Frecaut

    Summary Low unemployment leaves inflation as the key concern, with disinflation proceeding too slowly. Fedspeak has turned more hawkish, and August CPI likely failed Waller’s test for a September hold. I expect a 25bp insurance hike this month, followed by a hold through 2027 and resumed normalization in 2028. With hindsight, the 2024–25 cuts may […]

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