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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Hawkish Fed in 2022: Boosting the Importance of Stock Picking as Valuations Receive Less Support

Fed’s Hawkish Pivot: Heavily Dependent on Economic Outcomes Matching Forecasts

Fed's Inflation Credibility: Facing the Sternest of Tests in 2022 as Inflationary Psychology Rises

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>US equity investors' expectations have been fickle by failing to appreciate that there would be payback demanded by the Fed for their unprecedented policy easing during the COVID-19 pandemic.</li>
<li>The Federal Open Market Committee (FOMC) will be pleased to witness the recent correction in equity prices and will view price declines as a signal of policy credibility.</li>
<li>US equities remain vulnerable to liquidity contraction. Housing has also boosted households' wealth, and the Fed would provide policy support if home and equity prices fell simultaneously.    </li>
</ul>


US equity investors' expectations have been fickle by failing to appreciate that there would be payback demanded by the Fed for their unprecedented policy easing during the COVID-19 pandemic.
The Federal Open Market Committee (FOMC) will be pleased to witness the recent correction in equity prices and will view price declines as a signal of policy credibility.
US equities remain vulnerable to liquidity contraction. Housing has also boosted households' wealth, and the Fed would provide policy support if home and equity prices fell simultaneously.    


Fed Unperturbed by Equity Market Declines as Housing Cushions the Blow to Households' Net Worth