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

<ul>
<li>Fears about persistent inflation and stagflation have come full circle and returned to financial markets due to insufficient Fed tightening as measured by real interest rates. </li>
<li>Service sector price increases have replaced commodities as the main driver of inflation, thereby presenting the Fed with a big challenge due to their greater importance in the economy. </li>
<li>Adjustment to the Fed's policy framework is required due to the resilience of the real economy to policy tightening. A higher terminal level of the federal funds rate is required. </li>
</ul>


Fears about persistent inflation and stagflation have come full circle and returned to financial markets due to insufficient Fed tightening as measured by real interest rates. 
Service sector price increases have replaced commodities as the main driver of inflation, thereby presenting the Fed with a big challenge due to their greater importance in the economy. 
Adjustment to the Fed's policy framework is required due to the resilience of the real economy to policy tightening. A higher terminal level of the federal funds rate is required. 


Fed Policy Outlook: US Stagflation Fears Come Full Circle