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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Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Debate about stagflation or another Roaring 20s in the aftermath of the COVID-19 pandemic favours the former, while the Fed has lost anti-inflation credibility by delaying policy tightening measures. </li>
<li>The previous US expansion was well-balanced, while the Fed's long-term economic outlook has not shifted. The post-pandemic recovery has significant supply-demand imbalances, boosting  fears of more entrenched inflation.</li>
<li>Gradualism is still the accepted way to change Fed policy settings to avoid upsetting markets.  There is, however, a risk the Fed will raise its inflation target. </li>
</ul>


Debate about stagflation or another Roaring 20s in the aftermath of the COVID-19 pandemic favours the former, while the Fed has lost anti-inflation credibility by delaying policy tightening measures. 
The previous US expansion was well-balanced, while the Fed's long-term economic outlook has not shifted. The post-pandemic recovery has significant supply-demand imbalances, boosting  fears of more entrenched inflation.
Gradualism is still the accepted way to change Fed policy settings to avoid upsetting markets.  There is, however, a risk the Fed will raise its inflation target. 


Fed Still Playing Catch-Up By Relying on Policy Gradualism to Tame Inflation