‘Controlled demolition’: Expect more bank failures as Fed keeps rates high – DiMartino Booth

Kitco News, Released on 7/27/23

Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, joins Michelle Makori Lead Anchor and Editor-in-Chief at Kitco News to discuss the ongoing impact of Fed policy on the U.S. economy. They also discuss the ongoing crisis in banking and commercial real estate, and the prospects for gold and equities in a ‘higher for longer’ scenario.

0:00 – Reaction to July FOMC
3:11 – How ‘higher for longer’ will manifest
7:37 – Recession masked by stimulus
13:07 – Expect a real recession
14:58 – More bank collapses to come
19:26 – Commercial real estate collapsing
23:00 – Equities are trading on hope
23:51 – More in gold and munis, zero in equities

Danielle DiMartino Booth is Founder & CEO of QI Researcha research and analytics firm. She spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Lufkin & Jenrette and Credit Suisse, where she worked fixed income and the public and private equity markets. Danielle earned her BBA as a College of Business Scholar at the University of Texas at San Antonio. She holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.

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