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>President Trump has broken with tradition by searching for new Fed leadership well ahead of Chairman Powell’s term expiration next May. Two new possible contenders have emerged as potential successors. </li>
<li>US growth seems respectable in Q3. Chairman Powell’s assessment of the labour market is being questioned.  A 25 basis point reduction in the Fed’s policy rate is expected in September. </li>
<li>US corporate profit growth has been respectable during 2025 H1, but tougher year-ago comparisons suggest more moderate growth in H2.  European profit growth is expected to be good in 2026. </li>
</ul>


President Trump has broken with tradition by searching for new Fed leadership well ahead of Chairman Powell’s term expiration next May. Two new possible contenders have emerged as potential successors. 
US growth seems respectable in Q3. Chairman Powell’s assessment of the labour market is being questioned.  A 25 basis point reduction in the Fed’s policy rate is expected in September. 
US corporate profit growth has been respectable during 2025 H1, but tougher year-ago comparisons suggest more moderate growth in H2.  European profit growth is expected to be good in 2026. 


New Fed Leadership Contest Becomes Broader While Corporate Profits Performance Defies Tariff Angst