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.

Fed Sees Economy Cooling as Leading Indicators Also Suggest Softer Looming Trend

Implications of Immigration on Future Fed Policy Conduct and US Equity Returns

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>The period of easy US monetary policy after the global financial crisis did not produce excessive private investment in the real economy, while financial markets became the major beneficiaries.</li>
<li>US productivity growth has persistently struggled to replicate the impressive performance witnessed during the late-1990s, thereby forcing companies to raise selling prices in the post-pandemic environment to preserve operating margins. </li>
<li>The recent stalling of the US disinflationary process may reflect the continuation of disappointing productivity growth as firms continue are still relying on price rise to preserve profit margins. </li>
</ul>


The period of easy US monetary policy after the global financial crisis did not produce excessive private investment in the real economy, while financial markets became the major beneficiaries.
US productivity growth has persistently struggled to replicate the impressive performance witnessed during the late-1990s, thereby forcing companies to raise selling prices in the post-pandemic environment to preserve operating margins. 
The recent stalling of the US disinflationary process may reflect the continuation of disappointing productivity growth as firms continue are still relying on price rise to preserve profit margins. 


Future US Productivity Growth: Crucial for Disinflation, Fed Policy Conduct, and Corporate Profits