Blockworks Macro, Released on 5/4/23
Danielle DiMartino Booth, CEO and chief strategist at QI Research, returns to Forward Guidance to share her thoughts on May 3rd’s Federal Reserve’s meeting of the Federal Open Market Committee (FOMC) as well as the ongoing issues at several regional U.S. banks.
00:00 Intro
11:02 When Will The Fed Pivot (Cut Rates)?
15:40 Powell Wants To Get Rid Of The Fed Put
25:20 Calling Inflation “Transitory” Was “A Path To Hell”
29:11 “Powell Will Stand His Ground”
34:30 Permissionless
35:34 The Balance Sheet
40:17 Powell Won’t Save The Banks
47:41 Blockworks Research
48:41 The Debt Ceiling
54:08 “This Is Going To Be A Really Ugly Recession”
58:03 Door To A June Hike Is Ajar
59:11 The Bernanke Doctrine
01:01:26 Danielle’s Views On Private Credit Are Evolving
Danielle DiMartino Booth is CEO & Chief Strategist for Quill Intelligence LLC, 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.