Kitco News, Released on 7/9/24

Jeremy Szafron, Anchor at Kitco News, interviews Danielle DiMartino Booth, CEO & Chief Strategist of QI Research, at the Rick Rule Symposium in Boca Raton. DiMartino Booth provides deep insights into Jerome Powell’s delayed rate cuts, the looming consumer debt crisis, and the potential economic impacts. She discusses the aggressive rate cuts anticipated in response to economic data and the implications for the broader economy. DiMartino Booth also explores the effects of the artificial intelligence revolution on employment, the rise in bankruptcy filings, and the unprecedented levels of non-mortgage debt among U.S. households.

00:00 – Introduction and Powell’s Congress Session
02:22 – Powell’s Delayed Rate Cuts
03:44 – Potential Aggressive Rate Cuts
05:06 – Impact of Rate Cuts on the Economy
07:28 – Revisiting Data Before Market Reactions
09:50 – Current Economic Indicators and Recession Signs
12:12 – Consumer Debt Crisis and Spending Patterns
14:34 – Job Market and Employment Trends
16:56 – Commercial Real Estate and Banking Sector
18:18 – Election and Future Economic Outlook

Danielle DiMartino Booth is Founder & CEO of QI Research, a 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.

  banking sector, commercial real estate, economy, Fed, interest rates, investing, rate cuts