(Corrects name of economist in headline)
NEW YORK Dec 18 U.S. economist Raymond Stone
bought back his research firm, Stone & McCarthy Research
Associates, from the Chinese state news agency, Xinhua, which
had put it up for sale after acquiring it in 2004, he said on
When asked, Stone declined to speak about terms of the
purchase, which was finalized on Dec 15.
The veteran economist partnered with William Kanto, a former
bond manager who joined Stone & McCarthy as a consultant in
2011, in the deal.
"We were up for sale. We wanted our destiny in our own
hands," Stone said. "I will run research, and William will run
In 1989, Stone founded the macroeconomic and Fed-watching
research firm in Princeton, New Jersey, with Ward McCarthy, who
is now the chief financial economist at Jefferies & Co, a
broker-dealer firm in New York.
(Reporting by Richard Leong; Editing by Dan Grebler)