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.

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

By embracing a patient policy approach, the Federal Open Market Committee (FOMC) imparted a positive shock to markets that has successfully banished investors' fears of looming recession that prevailed in Q4. 
Meanwhile, the Federal Reserve Bank of New York's Underlying Inflation Gauge suggests the future core inflation backdrop will not present a significant hurdle for the FOMC to ease policy if necessary.
Financial markets have firmly embraced a Goldilocks economic scenario that precludes further Fed action which will be ultimately beneficial for risky assets.
Fed Vice Chair Clarida has hinted at a potential tolerance for inflation overshooting the 2% target as part of an overall "makeup" strategy to compensate for persistent undershooting that has produced sticky inflationary expectations.
Ultimately, supply-side developments in the economy could determine the endgame for Fed policy and, consequently, the cycle by deferring the arrival of overheating.

By embracing a patient policy approach, the Federal Open Market Committee (FOMC) imparted a positive shock to markets that has successfully banished investors' fears of looming recession that prevailed in Q4. 
Meanwhile, the Federal Reserve Bank of New York's Underlying Inflation Gauge suggests the future core inflation backdrop will not present a significant hurdle for the FOMC to ease policy if necessary.
Financial markets have firmly embraced a Goldilocks economic scenario that precludes further Fed action which will be ultimately beneficial for risky assets.
Fed Vice Chair Clarida has hinted at a potential tolerance for inflation overshooting the 2% target as part of an overall "makeup" strategy to compensate for persistent undershooting that has produced sticky inflationary expectations.
Ultimately, supply-side developments in the economy could determine the endgame for Fed policy and, consequently, the cycle by deferring the arrival of overheating.

Low Core Inflation and Favourable Supply-Side Dynamics: Key to a Benign Fed Policy Outlook