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.

Rush to Normalise Fed Policy Settings Raises Questions Over US Corporate Profits Outlook

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

Geopolitics Raises Risks of Fed Policy Error as Sanctions Fallout Threaten Global Inflation

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>September's FOMC meeting is being viewed as an inflexion point towards less draconian tightening, but this outcome is dependent on economic data over the course of the summer.</li>
<li>Reaching the neutral federal funds rate as quickly as possible is the FOMC's objective, but the policy outlook thereafter will be driven by the stickiness of inflation.</li>
<li>The lack of concern by the Fed about falling equity prices is viewed as a signal that falling household net worth is viewed as a means to curb inflationary pressures.</li>
</ul>


September's FOMC meeting is being viewed as an inflexion point towards less draconian tightening, but this outcome is dependent on economic data over the course of the summer.
Reaching the neutral federal funds rate as quickly as possible is the FOMC's objective, but the policy outlook thereafter will be driven by the stickiness of inflation.
The lack of concern by the Fed about falling equity prices is viewed as a signal that falling household net worth is viewed as a means to curb inflationary pressures.


Markets Fear Bad Outcomes for Fed Policy, but Inflation Currently Trumps Equity Prices