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>The resilience of the global economy to monetary tightening in 2022 should not be a major surprise given the lags in the policy transmission mechanism. </li>
<li>The risk of a policy mistake by the Fed will increase in 2023, particularly as more gradual increases in the federal funds rate are instituted. </li>
<li>China's zero-tolerance policy towards COVID-19 has incurred significant economic costs, but future fiscal stimulus will be more selective due to issues about the impact on productivity and local government finances</li>
</ul>


The resilience of the global economy to monetary tightening in 2022 should not be a major surprise given the lags in the policy transmission mechanism. 
The risk of a policy mistake by the Fed will increase in 2023, particularly as more gradual increases in the federal funds rate are instituted. 
China's zero-tolerance policy towards COVID-19 has incurred significant economic costs, but future fiscal stimulus will be more selective due to issues about the impact on productivity and local government finances


Gazing into 2023: Baseline Risks Assessed