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.

Fed Policy Conduct: Limitations of Data-Dependent Approach Being Exposed

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Fed Chairman Powell was more hawkish about the interest rate outlook after the latest policy meeting. Governor Waller's concerns about weaker labour demand appear vindicated by July's Employment Situation report.</li>
<li>The Fed has three mandates that will impart conflicting policy implications in the current environment, particularly given the recent softening in labour demand and higher Treasury borrowing estimates.</li>
<li>Issuance of coupon Treasury securities will remain unchanged until at least May 2026, which crucially coincides with Chairman Powell's term expiration at the Fed.</li>
</ul>


Fed Chairman Powell was more hawkish about the interest rate outlook after the latest policy meeting. Governor Waller's concerns about weaker labour demand appear vindicated by July's Employment Situation report.
The Fed has three mandates that will impart conflicting policy implications in the current environment, particularly given the recent softening in labour demand and higher Treasury borrowing estimates.
Issuance of coupon Treasury securities will remain unchanged until at least May 2026, which crucially coincides with Chairman Powell's term expiration at the Fed.


Fed Chairman's Hawkish Policy Posture Under Scrutiny Due to Weaker Labour Market Data