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

<ul>
<li>Financial markets have been forced to contend with various inflationary threats since the  COVID-19 pandemic. Investors' attention will eventually return to the productivity benefits stemming from artificial intelligence (AI). </li>
<li>The AI investment boom and pressure on governments to increase defence spending raises the cost of capital for corporate and sovereign borrowers. China has avoided high cost AI infrastructure build-out.</li>
<li>The AI investment boom has produced short-term inflationary pressures, but productivity gains are expected to impart stronger disinflationary forces in the long run, particularly in services.</li>
</ul>


Financial markets have been forced to contend with various inflationary threats since the  COVID-19 pandemic. Investors' attention will eventually return to the productivity benefits stemming from artificial intelligence (AI). 
The AI investment boom and pressure on governments to increase defence spending raises the cost of capital for corporate and sovereign borrowers. China has avoided high cost AI infrastructure build-out.
The AI investment boom has produced short-term inflationary pressures, but productivity gains are expected to impart stronger disinflationary forces in the long run, particularly in services.


AI-Induced Productivity Gains: Implications for Interest Rates and Fed Policy