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

Despite the US economy's resilience, the next Administration still faces formidable challenges, notably maintaining sufficient public demand to support continued healing in the labour market. Without further federal assistance, deep budget cuts by state &amp; local governments could imperil the economic recovery.
Arguments between Democrats and Republicans about the size of fiscal stimulus are essentially pointless, particularly given the lower value of fiscal multiplier during economic expansions. Targeted spending at alleviating restrictions on social gatherings will raise aggregate demand for those sectors of the economy that continue to be impacted by the COVID-19 pandemic.
Vice President Biden has pledged to raise the minimum wage and repeal part of the corporate tax cuts that were invoked in 2017, claiming that companies did not engage in meaningfully higher capital spending with their higher after-tax profits. Further costs will also be imposed on the corporate sector by a Biden Administration under the auspices of a Paycheck Fairness Act that would mandate equal pay between sexes and boost paid child care leave.
Both US Presidential candidates have vowed to reduce the country's economic reliance on China via legislation. A Biden Administration may be constrained in terms of offering major goodwill gestures to China due to strong protectionist sentiment amongst Congressional Democrats.
The COVID-19 pandemic has massively compounded an underlying level of business uncertainty that already prevailed due to trade tensions with China, and it is doubtful that a Biden Administration could quickly ignite animal spirits in sectors adversely impacted by tariffs. The available time to reset relations with China and deal with income inequality is very short for a Biden Administration, thereby making it difficult for the rapid return of animal spirits.

Despite the US economy's resilience, the next Administration still faces formidable challenges, notably maintaining sufficient public demand to support continued healing in the labour market. Without further federal assistance, deep budget cuts by state &amp; local governments could imperil the economic recovery.
Arguments between Democrats and Republicans about the size of fiscal stimulus are essentially pointless, particularly given the lower value of fiscal multiplier during economic expansions. Targeted spending at alleviating restrictions on social gatherings will raise aggregate demand for those sectors of the economy that continue to be impacted by the COVID-19 pandemic.
Vice President Biden has pledged to raise the minimum wage and repeal part of the corporate tax cuts that were invoked in 2017, claiming that companies did not engage in meaningfully higher capital spending with their higher after-tax profits. Further costs will also be imposed on the corporate sector by a Biden Administration under the auspices of a Paycheck Fairness Act that would mandate equal pay between sexes and boost paid child care leave.
Both US Presidential candidates have vowed to reduce the country's economic reliance on China via legislation. A Biden Administration may be constrained in terms of offering major goodwill gestures to China due to strong protectionist sentiment amongst Congressional Democrats.
The COVID-19 pandemic has massively compounded an underlying level of business uncertainty that already prevailed due to trade tensions with China, and it is doubtful that a Biden Administration could quickly ignite animal spirits in sectors adversely impacted by tariffs. The available time to reset relations with China and deal with income inequality is very short for a Biden Administration, thereby making it difficult for the rapid return of animal spirits.

Ensuring US Economic Growth: Next US Administration Faces Short Honeymoon to Deliver Promises