Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

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Hawkish Fed Faces New Challenge as US Treasury Examines Ways to Improve Market Liquidity

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Potential fragility in the US banking system raises the ante on the Fed to pause increasing its policy rate.  Easy money impaired banks' ability to endure higher funding costs.</li>
<li>Newly available access to the Fed's balance sheet incurs consequences, including moral hazard, less competition and potentially easier financial conditions when inflation remains elevated.</li>
<li>Markets are discounting that the Fed will ease policy settings to counter banking system events. The Fed faces difficult challenges in trying to quell inflation and preserve financial stability.</li>
</ul>


Potential fragility in the US banking system raises the ante on the Fed to pause increasing its policy rate.  Easy money impaired banks' ability to endure higher funding costs.
Newly available access to the Fed's balance sheet incurs consequences, including moral hazard, less competition and potentially easier financial conditions when inflation remains elevated.
Markets are discounting that the Fed will ease policy settings to counter banking system events. The Fed faces difficult challenges in trying to quell inflation and preserve financial stability.


Fed's Inflation Fight: Upended by Banking System Concerns?