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.

Late-2022 Policy Developments Further Complicate 2023 Outlook

Gazing into 2023: Baseline Risks Assessed

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>US investors' expectations about future US economic activity remain fluid as investors continue not to buy the Fed's forward guidance of interest rates remaining higher for longer.</li>
<li>Global economic dynamics are still reflecting legacy issues attributable to the COVID-19 pandemic, notably a less elastic aggregate supply curve and tighter labour markets.</li>
<li>Fed policy conduct remains data dependent after the federal funds rate was raised 25 basis points to 5%-5.25%, but a pause is likely as new economic and financial information unfolds.</li>
</ul>


US investors' expectations about future US economic activity remain fluid as investors continue not to buy the Fed's forward guidance of interest rates remaining higher for longer.
Global economic dynamics are still reflecting legacy issues attributable to the COVID-19 pandemic, notably a less elastic aggregate supply curve and tighter labour markets.
Fed policy conduct remains data dependent after the federal funds rate was raised 25 basis points to 5%-5.25%, but a pause is likely as new economic and financial information unfolds.


Higher Uncertainty Poses Challenges to US Economic and Financial Outlook for Investors and the Fed