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>The Fed left its policy rate unchanged last week but embraced a stagflationary outlook for the US economy by lowering growth and raising inflation and unemployment rate forecasts.</li>
<li>The policy goals within the Fed’s dual mandate have not been equally pursued.  Data-dependent conduct by the Fed runs the risk of policy becoming too reactionary and less forward-looking.  </li>
<li>Recent inflation trends should not prevent the Fed from reducing its policy rate.  Some survey-based measures of consumers’ inflationary expectations appear to have rolled over, following tariff-induced spikes in April.</li>
</ul>


The Fed left its policy rate unchanged last week but embraced a stagflationary outlook for the US economy by lowering growth and raising inflation and unemployment rate forecasts.
The policy goals within the Fed’s dual mandate have not been equally pursued.  Data-dependent conduct by the Fed runs the risk of policy becoming too reactionary and less forward-looking.  
Recent inflation trends should not prevent the Fed from reducing its policy rate.  Some survey-based measures of consumers’ inflationary expectations appear to have rolled over, following tariff-induced spikes in April.


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